Section 51 - Amendment of section 115A. - Finance Act, 2023

Amendment of section 115A. 51. In section 115A of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 2024, (i) in clause (a), in sub-clause (A), the following proviso shall be inserted, namely: ''Provided that the amount of income-tax calculated on the amount of income by way of dividend received from a Unit in an International Financial Services Centre, as referred to in sub-section (1A) of section 80LA, shall be ten per cent.; ; (ii) in clause (b), in sub-clauses (A) and (B), for the word ''ten'', the word ''twenty'' shall be substituted.