Amendment of section 234B.

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..... 2013. - Clause 83 of the Bill seeks to amend section 234B of the Income-tax Act relating to interest for defaults in payment of advance tax. The existing provisions of sub-section (1) of the aforesaid section 234B provides that the assessee is liable to pay simple interest at the rate of one per cent. for every month or part of the month on the amount of advance tax which falls short of ass .....

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..... wed to be set off under section 115JD from the assessed tax. This amendment will take effect from 1st April, 2013 and will, accordingly, apply in relation to assessment year 2013-2014 and subsequent assessment years. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.co .....

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