Section 38 - Amendment of section 115JC - Finance Act, 2018

Amendment of section 115JC 38 . In section 115JC of the Income-tax Act, after sub-section (3), the following sub-section shall be inserted with effect from the 1st day of April, 2019, namely: (4) Notwithstanding anything contained in sub-section (1), where the person referred to therein, is a unit located in an International Financial Services Centre and derives its income solely in convertible foreign exchange, the provisions of sub-section (1) shall have effect as if for the words eighteen and one-half per cent. , the words nine per cent. had been substituted. .