Amendment of section 115A

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..... n (2) of section 194LBA; ; (II) in item (BA), after the word, brackets, figures and letters sub-clause (iiab) , the words, brackets, figures and letters or sub-clause (iiac) shall be inserted; (III) in item (D), after the word, brackets, figures and letters sub-clause (iiab) , the word, brackets, figures and letters , sub-clause (iiac) shall be inserted. - Clause 35 of the Bill seeks to amend sect .....

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..... 0 or the Unit Trust of India. It is proposed to amend clause (a) of sub-section (1) of section 115A to insert a new sub-clause (iiac) so as to provide that where the total income of a non-resident (not being a company) or a foreign company includes distributed income being interest referred to in sub-section (2) of section194LBA such income shall be taxable at the rate of five per cent. It is furt .....

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