https://www.taxtmi.com/circulars?id=4577 The Amending Act raises the exemption limit and revises the first two sub-paragraphs of the rate schedule with retrospective effect, fixing a nil rate on the initial income slab and a new middle slab rate while retaining higher slab rates; the revised schedules apply to salary withholding, advance tax computation, certain retirement annuities and special accelerated assessments. Section 2(7) raises the threshold for partially integrated taxation to the revised exemption, and the Act validates earlier advance-tax notices by treating them as if revised under the new rates, permitting taxpayers to adjust excess payments. en-us Mon, 15 Sep 1975 00:00:00 +0530 Wed, 30 Jul 2008 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4577 The Amending Act raises the exemption limit and revises the first two sub-paragraphs of the rate schedule with retrospective effect, fixing a nil rate on the initial income slab and a new middle slab rate while retaining higher slab rates; the revised schedules apply to salary withholding, advance tax computation, certain retirement annuities and special accelerated assessments. Section 2(7) raises the threshold for partially integrated taxation to the revised exemption, and the Act validates earlier advance-tax notices by treating them as if revised under the new rates, permitting taxpayers to adjust excess payments. Circulars Income Tax Mon, 15 Sep 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4577