Clause 64 - Amendment of section 234A - Finance Bill, 2022

Amendment of section 234A. 64. In section 234A of the Income-tax Act, in sub-section (1), (i) after the words, brackets and figure or sub-section (4) , the words, brackets, figure and letter or sub-section (8A) shall be inserted; (ii) for Explanation 2, the following Explanation shall be substituted, namely: Explanation 2. In this sub-section, (i) tax on total income as determined under subsection (1) of section 143 shall not include the additional income-tax, if any, payable under section 140B or section 143; and (ii) tax on the total income determined under regular assessment shall not include the additional income-tax payable under section 140B. .