Income Tax Act 2023
Section 164 - 1[Excess or less] tax deducted or collected at source not being basis of minimum tax
(as updated till Finance Act 2024)
Where tax is deducted or collected in excess 2[or less] of the correct amount, such excess 3[or less] deduction or collection shall not be treated for the purpose of computing minimum tax under section 163.
1 The words “excess or less” were substituted for the word “excess” by section 55(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
2 The words “or less” were inserted by section 55(b) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
3 The words “or less” were inserted by section 55(b) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
Disclaimer: This is the authentic English text of the Income Tax Act 2023, as published under SRO No. 404-Law/2025 dated 08 October 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.