Section 14 - Amendment of section 35D - Finance (No. 2) Act, 1998

14. Amendment of section 35D In section 35D of the Income-tax Act, with effect from the 1st day of April, 1999,- (a) In sub-section (1), the following proviso shall be inserted, namely:- Provided that where an assessee incurs after the 31st day of March, 1998, any expenditure specified in sub-section (2) the provisions of this sub-section shall have effect as if for the words an amount equal to one-tenth of such expenditure for each of the ten successive previous years , the words an amount equal to one-fifth of such expenditure for each of the five successive previous years had been substituted ; (b) In sub-section (3) before the Explanation the following proviso shall be inserted, namely:- Provided that where the aggregate amount of expenditure referred to in sub-section (2) is incurred after the 31st day of March, 1998, the provisions of this sub-section shall have effect as if for the words two and one-half per cent. , the words five per cent had been substituted;