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Amendment of section 115JF.

ollowing clause shall be substituted, namely:- (b) alternate minimum tax means the amount of tax computed on adjusted total income,- (i) in case of an assessee being a unit referred to in sub-section (4) of section 115JC, at a rate of nine per cent.; (ii) in any other case, at a rate of eighteen and one-half per cent.; ; (ii) after clause (b), the following clauses shall be inserted, namely:- (ba) .....

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unit located in an International Financial Service Centre and derives its income solely in convertible foreign exchange, the rate of tax minimum alternate tax shall be nine per cent. It is further proposed to define certain expressions used therein. These amendments will take effect from 1st April, 2019 and will, accordingly, apply in relation to the assessment year 2019-2020 and subsequent years. .....

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