Section 20 - Amendment of section 40 - Finance Act, 2002

20. Amendment of section 40.- In section 40 of the Income-tax Act,- (i) in clause (a), after sub-clause (iv), the following sub-clause shall be inserted with effect from the 1st day of April, 2003, namely:- "(v) any tax actually paid by an employer referred to in clause (10CC) of section 10;" (ii) in clause (b), in sub-clause (iv), for the words "eighteen per cent.", the words "twelve percent." shall be substituted with effect from the 1st day of June, 2002.