Retrospective Amendment to Section 140B(4): Interest Calculation on Assessed Tax Minus Advance Tax from April 2022.

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....Clarification regarding advance tax while filing Updated Return - a retrospective amendment has been proposed in section 140B(4) that interest payable under section 234B shall be computed on an amount equal to the assessed tax as reduced by the amount of advance tax, the credit for which has been claimed in the earlier return, if any. to take effect from 1.04.2022.....