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<h1>Finance Act 2008 amends Income-tax Act Section 111A; tax rate rises from 10% to 15% effective April 1, 2009.</h1> Section 111A of the Income-tax Act has been amended by the Finance Act, 2008. In sub-section (1), clause (i), the tax rate has been increased from ten percent to fifteen percent. This amendment will take effect from April 1, 2009.