Amendment of section 267.

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....) and 206(3) and (4)."; (b) in sub-section (4), for clause (e), the following clause shall be substituted, namely:-- "(e) any tax credit claimed, to be set off as per the provisions of sections 206(2)(e) to (h) and 206(3) and (4) which has not been claimed in the earlier return."; (c) for sub-section (5), the following sub-section shall be substituted, namely: -- "(5)(i) Fo....

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.... aggregate of tax and interest payable, as determined in sub-section (1) or (3), as the case may be, if such return is furnished after the expiry of twenty-four months, but before the completion of thirty-six months, from the end of the financial year succeeding the relevant tax year; or (d) 70% of aggregate of tax and interest payable, as determined in sub-section (1) or (3), as the case....

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....d in the earlier return; and". - Clause 59 of the Bill seeks to amend section 267 of the Income-tax Act, 2025 relating to tax on updated return. It is proposed to make consequential amendments in order to bring changes proposed in the minimum alternate tax regime by giving reference of section 206(3) and (4) instead of section 206(1)(m) to (p). Sub-section (5) of the said section provid....