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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Bill 2011 amends section 115JB: Minimum tax on book profits rises to 18.5%, SEZ income exemption ends.</h1> Clause 17 of the Finance Bill, 2011 proposes amendments to section 115JB of the Income-tax Act, effective from April 1, 2012. The amendment modifies sub-section (1) to increase the minimum tax rate on book profits from eighteen percent to eighteen and one-half percent. Additionally, a proviso is introduced to sub-section (6), stating that its provisions will no longer apply to income from Special Economic Zones for assessment years starting on or after April 1, 2012. These changes are applicable from the assessment year 2012-2013 onwards.
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