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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Central Government Sets 12% Rate Effective April 1, 1986, u/r 6, Part A, Fourth Schedule of Income-Tax Act.</h1> The Central Government, in supersession of Notification No. S.O. 466(E) dated June 18, 1985, has fixed a twelve percent rate effective from April 1, 1986, as per clause (b) of rule 6 of Part A of the Fourth Schedule to the Income-tax Act, 1961. This change was formalized through Notification No. S.O. 120(E) dated March 27, 1986. The notification was later superseded by Notification No. S.O. 484(E) dated May 30, 2001.