Section 18 - Amendment of section 115JB. - Finance Act, 2011

Amendment of section 115JB. 18. In section 115JB of the Income-tax Act, (i) in sub-section (1), with effect from the 1st day of April, 2012, (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 eighteen and one-half per cent shall be substituted; (ii) after sub-section (2), in Explanation 1, clause (iv), clause (v) and clause (vi) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 2005; (iii) in sub-section (6) [as so inserted by the Special Economic Zones Act, 2005 (28 of 2005)], the following proviso shall be inserted with effect from the 1st day of April, 2012, 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. .