Clause 17 - Amendment of section 115JB. - Finance Bill, 2011

17. In section 115JB of the Income-tax Act, with effect from the 1st day of April, 2012, (i) in sub-section (1), (a) for the words, figures and letters "the 1st day of April, 2011", the words, figures and letters "the 1st day of April, 2012" shall be substituted; (b) for the words "eighteen per cent.", at both the places where they occur, the words "eighteenand one-half per cent." shall be substituted; (ii) in sub-section (6) [as so inserted by the Special Economic Zones Act, 2005], (28 of 2005). The following proviso shall be inserted, namely: "Provided that the provisions of this sub-section shall cease to have effect in respect of any previous year relevant to the assessment year commencing on or after the 1st day of April, 2012.".