https://www.taxtmi.com/acts?id=53424 Relief in tax payable under section 206(1) is computed by reducing the tax payable under a prescribed formula comparing book profit with and without past income, and comparing past-year tax after and before giving effect to that income. Past income is limited to income included because of an advance pricing agreement or a secondary adjustment. Any negative result is treated as zero, the corresponding tax credit under section 206(1)(m) is reduced, and the claim must be made in Form No. 53 with verification by the authorised person. en-us Fri, 20 Mar 2026 18:05:45 +0530 Tue, 07 Apr 2026 11:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53424 Relief in tax payable under section 206(1) is computed by reducing the tax payable under a prescribed formula comparing book profit with and without past income, and comparing past-year tax after and before giving effect to that income. Past income is limited to income included because of an advance pricing agreement or a secondary adjustment. Any negative result is treated as zero, the corresponding tax credit under section 206(1)(m) is reduced, and the claim must be made in Form No. 53 with verification by the authorised person. Act-Rules Income Tax Fri, 20 Mar 2026 18:05:45 +0530 https://www.taxtmi.com/acts?id=53424