Home Acts & Rules Finance Act / Amendment Acts Finance Acts FINANCE (No. 2) ACT, 2014 Chapters List Chapter III DIRECT TAXES This
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Section 42 - Amendment of section 115R - FINANCE (No. 2) ACT, 2014Extract Amendment of section 115R 42. In section 115R of the Income-tax Act,- (a) after the Explanation to sub-section (2), the following sub-section shall be inserted with effect from the 1st day of October, 2014, namely:- (2A) For the purposes of determining the additional income-tax payable in accordance with sub-section (2), the amount of distributed income referred therein shall be increased to such amount as would, after reduction of the additional income-tax on such increased amount at the rate specified in subsection (2), be equal to the amount of income distributed by the Mutual Fund. ; (b) sub-section (3A) shall be omitted with effect from the 1st day of April, 2015.
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