India: government issued a notification specifying the tolerance band to be 1% for wholesale traders and 3% in all other cases for FY 2012-13

Tax Insights ()

Recently the Central Government of India in exercise of the powers conferred by the second proviso to section 92C(2) of the Indian Income Tax Act, 1961, issued a notification specifying the tolerance band to be 1% for wholesale traders and 3% in all other cases for FY 2012-13.