Section 48 - Amendment of section 115JD. - Finance Act, 2017

Amendment of section 115JD. 48. In section 115JD of the Income-tax Act, with effect from the 1st day of April, 2018,- (a) in sub-section (2), the following proviso shall be inserted, namely:- Provided that where the amount of tax credit in respect of any income-tax paid in any country or specified territory outside India under section 90 or section 90A or section 91, allowed against the alternate minimum tax payable, exceeds the amount of the tax credit admissible against the regular income-tax payable by the assessee, then, while computing the amount of credit under this sub-section, such excess amount shall be ignored. ; (b) in sub-section (4), for the words tenth assessment year , the words fifteenth assessment year shall be substituted.