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of <h1>Income-tax Act Section 109: Amendments Affect Business Income Tax Rates and Conditions for Consultancy and Investment Companies.</h1> Section 109 of the Income-tax Act is amended effective April 1, 1978. Clause (ia) is omitted, and in clause (iii), sub-clause (1) is revised to refer only to a consultancy service company. Sub-clause (3) is replaced to specify conditions for Indian companies, excluding certain types, regarding income from ship construction, manufacturing, mining, power generation, technical know-how, and related services. Tax rates are set at 0% for certain business incomes, 45% for technical know-how services, 90% for investment companies meeting specific conditions, and 60% for other cases. The chapter's provisions apply as if each income part is the company's gross total income.
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