Section 81 - Amendment of Second Schedule - Finance Act, 2007

Amendment of Second Schedule. 81. In the Second Schedule to the Income-tax Act, with effect from the 1st day of April, 2008, - (a) in rule 60, in sub-rule (1), in clause (a), for the words "fifteen per cent. per annum", the words "one and one-fourth per cent. for every month or part of a month" shall be substituted; (b) in rule 68A, in sub-rule (3), for the words "six per cent. per annum", the words "one-half per cent. for every month or part of a month" shall be substituted.