Section 40 of Finance Act 2018 : Amendment of section 115-O Income Tax Act

By | April 1, 2018
(Last Updated On: April 15, 2018)

Section 40 of Finance Act 2018

[Section 40 of Finance Act 2018 deals with Amendment of section 115-O. and is covered in CHAPTER III DIRECT TAXES]

Amendment of section 115-O.

40. In section 115-O of the Income-tax Act,—

(a)in sub-section (1), the following proviso shall be inserted, namely:—
Provided that in respect of dividend referred to in sub-clause (e) of clause (22) of section 2, this sub-section shall have effect as if for the words “fifteen per cent”, the words “thirty per cent” had been substituted;’;
(b)in sub-section (1B), the following proviso shall be inserted, namely:—
Provided that this sub-section shall not apply in respect of dividend referred to in sub-clause (e) of clause (22) of section 2.”.

Finance Act 2018 : Assented by President : Download Print Notification

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