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Amendment of section 115TD.

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..... f the Bill seeks to amend section 115TD of the Income-tax Act relating to tax on accreted income. Sub-section (1) of the said section provides for payment of additional income-tax on the specified date by the name tax on accreted income, notwithstanding anything contained in that Act, to be paid at the maximum marginal rate where in any previous year, a trust or institution register under section .....

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..... to payment of said additional income-tax. It is proposed to make a reference to section 12AB in the said section, wherever the reference to section 12AA has been made so as to provide that provisions of said section 115TD shall, mutatis mutandis, apply to the trust or institution registered under section 12AB. This amendment will take effect from 1st June, 2020. - Statutory Provisions, Acts, Rules .....

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