Amendment of section 115U.

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....ly be substituted; (b) in sub-section (2),-- (i) for the words "The person responsible for making", the words "The person responsible for crediting or making" shall be substituted; (ii) for the words "to the person receiving such income", the words "to the person who is liable to tax in respect of such income" shall be substituted; (iii) for the words "income paid", the words "income paid ....

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....n credited to the account of the said person on the last day of the previous year in the same proportion in which such person would have been entitled to receive the income had it been paid in the previous year."; (ii) the Explanation shall be numbered as Explanation 1 thereof and after Explanation 1 as so numbered, the following Explanation shall be inserted with effect from the 1st day of July....