Section 40 - Amendment of section 115-O - Finance Act, 2018

Amendment of section 115-O 40 . In section 115-O of the Income-tax Act, (a) in sub-section (1), the following proviso shall be inserted, namely: Provided that in respect of dividend referred to in sub-clause (e) of clause (22) of section 2, this sub-section shall have effect as if for the words fifteen per cent. , the words thirty per cent. had been substituted; ; (b) in sub-section (1B), the following proviso shall be inserted, namely: Provided that this sub-section shall not apply in respect of dividend referred to in sub-clause (e) of clause (22) of section 2. .