Section 3 - Amendment of section 10A - Income Tax (Second Amendment) Act, 1998

3. Amendment of section 10A. In section 10A of the Income-tax Act, (a) in sub-section (3), (i) for the word five , the word ten shall be substituted; (ii) the words falling within a period of eight years and specified by the assessee at his option shall be omitted; (iii) the proviso shall be omitted; (b) in the Explanation below sub-section (8), for clause (ii), the following clause shall be substituted, namely, (ii) relevant assessment years means the ten consecutive assessment years referred to in sub-section (3); .