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of <h1>Amendment to Income-tax Act: Section 10 now excludes certain infrastructure investment incomes from tax under Explanation 2 of clause (23G).</h1> The Income-tax (Second Amendment) Act, 1998, modifies section 10 of the Income-tax Act, 1961. It introduces Explanation 2 to clause (23G), clarifying that income from dividends, interest, or long-term capital gains earned by an infrastructure capital fund or company from investments made before June 1, 1998, in infrastructure enterprises, is excluded from taxable income. The provisions applicable before the amendment by the Finance (No. 2) Act, 1998, will continue to apply to such income.
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