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<h1>Income-tax Act Section 196A amended: Tax rate lowered from 25% to 20%, effective June 1, 1994.</h1> Section 196A of the Income-tax Act is amended to change the rate specified in sub-section (2) from 'twenty-five per cent.' to 'twenty per cent.' This amendment is effective from June 1, 1994, as per the Finance Act of 1994.