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    <description>Amendments modify section 2 by updating the reference year, removing a surcharge clause and omitting two provisos; substitute Part I of the First Schedule to prescribe tiered tax rates for individuals, co operative societies, firms, local authorities and companies, including differentiated treatment of certain receipts of non domestic companies; and substitute rules in Part IV (rule 8) to require specified past agricultural losses, insofar as not previously set off, to be set off against agricultural income of designated subsequent assessment years, subject to prior determination by the Assessing Officer.</description>
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