Section 2 - Amendment of section 2 - Finance (Amendment) Act, 1987

2. Amendment of section 2. In section 2 of the Finance Act, 1987 (11 of 1987) (hereinafter referred to as the principal Act), (a) after sub-section (4), the following sub-section shall be inserted, namely: (4A) In cases in which tax has to be deducted under section 194C of the Income-tax Act, the deduction shall be made at the rates specified in that section and shall be increased by a surcharge for purposes of the Union calculated at the rate of five per cent. of such deduction. ; (b) in sub-section (5), after the proviso, the following proviso shall be inserted, namely: Provided further that in respect of any income chargeable to tax under section 115B of the Income-tax Act, the advance tax computed under the first proviso shall be increased by a surcharge for purposes of the Union calculated at the rate of five per cent. of such advance tax . .