Introducing the βIn Favour Ofβ filter in Case Laws.
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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Finance Act 1990: Income Tax Rate Changes, New Sections 80CCB & 80DD, Export Incentive Tax Clarifications, and More.</h1> The Finance Act, 1990, enacted as Act No. 12 of 1990, introduces various amendments and new provisions related to direct taxes. Key changes include adjustments to income tax rates for the 1990-91 assessment year, modifications to tax deductions, and the introduction of new sections such as 80CCB and 80DD. It also addresses tax concessions for savings and investments, modifies conditions for development rebates, and clarifies the taxability of export incentives. The Act extends retirement benefits to public sector employees and exempts interest on securities held for Bhopal gas leak victims. Additional amendments streamline tax assessment procedures and address anomalies in existing tax laws.