Clause 42 - Amendment of section 115BBC - Finance (No. 2) Bill, 2009

Amendment of section 115BBC. 42. In section 115BBC of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 2010, - (a) for clause (i), the following clause shall be substituted, namely:— "(i) the amount of income-tax calculated at the rate of thirty per cent of the aggregate of anonymous donation, as exceeds five per cent. of the total income of the assessee or an amount of rupees one lakh, whichever is higher; and"; (b) for clause (ii), the following clause shall be substituted, namely:— "(ii) the amount of income-tax with which the assessee would have been chargeable had his total income been reduced by the amount of income subject to tax under clause (i).".