Reduced tax rate for companies in section 212 subsection takes effect, substituting the higher rate with a lower company rate. Amendment inserts a further proviso to sub-section (3A) of section 212 of the Income-tax Act providing that, in the case of an assessee being a company, the figures and words '33-1/3 per cent.' are to be substituted by the figures and words '20 per cent.' with effect from the 1st day of September, 1980.