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of <h1>Finance Bill 2010 amends Section 115JB, raising minimum tax rate for companies from 15% to 18% starting April 2011.</h1> Clause 30 of the Finance Bill, 2010, amends section 115JB of the Income-tax Act, which pertains to the minimum tax payable by certain companies. Effective from April 1, 2011, the amendment changes the reference date from April 1, 2010, to April 1, 2011, and increases the minimum tax rate from fifteen percent to eighteen percent. This means if a company's tax payable is less than eighteen percent of its book profit, the book profit is deemed the total income, and the tax payable will be eighteen percent of that book profit for the assessment year 2011-2012 and onwards.
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