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of <h1>Expenditure-tax Act Amended: Key Changes to Sections 3, 5, 6, 38, 38A, 38B, and 39; New Tax Rates Introduced</h1> The amendment to the Expenditure-tax Act, 1957, includes several changes: Section 3 removes the proviso and explanation, while Section 5 modifies clause (g) regarding book purchases and adds a proviso to clause (j) concerning gift-tax. Clauses (l) and (n) are omitted. Section 6 revises capital expenditure deductions and omits several clauses. Section 38 is removed, and Sections 38A and 38B are introduced, allowing for the publication and disclosure of assessee information. Section 39 is amended to include the government, and a new schedule sets expenditure-tax rates based on taxable expenditure thresholds.
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