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Income Tax - Highlights / Catch Notes

Home Highlights February 2023 Year 2023 This

Clarification regarding advance tax while filing Updated Return ...

Notes     Income Tax

February 4, 2023

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.

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