Section 78 - Amendment of section 234A - Finance Act, 2001

78. Amendment of section 234A In section 234A of the Income-tax Act,- (a) in sub-section (1),- (i) for the words one and one-half per cent. , the words one and one-fourth per cent. shall be substituted with effect from the 1st day of June, 2001 ; (ii) Explanation 4 shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1989 ; (b) in sub-section (3), for the words one and one-half per cent. , the words one and one-fourth per cent. shall be substituted with effect from the 1st day of June, 2001.