Amendment of section 115ACA

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..... any engaged in specified knowledge based industry or service, or an employee of its subsidiary engaged in specified knowledge based industry or service (hereafter in this section referred to as the resident employee), includes- (a) income by way of dividends, other than dividends referred to in section 115-O, on Global Depository Receipts of an Indian company engaged in specified knowledge based .....

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..... at the rate of ten per cent. ; and (iii) the amount of income-tax with which the resident employee would have been chargeable had his total income been reduced by the amount of income referred to in clauses (a) and (b). Explanation.-For the purposes of this sub-section,- (a) "specified knowledge based industry or service" means- (i) information technology software ; (ii) information tech .....

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