Amendment of section 115BAC.

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....tanding anything contained in this Act but subject to the provisions of this Chapter, the income-tax payable in respect of the total income of a person, being an individual or Hindu undivided family or association of persons (other than a co-operative society), or body of individuals, whether incorporated or not, or an artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2, other than a person who has exercised an option under sub-section (6), for any previous year relevant to the assessment year beginning on or after the 1st day of April, 2024, shall be computed at the rate of tax given in the following Table, namely:- TABLE Sl. No. Total income Rate of tax (1) (2) (3) 1. Upto Rs.....

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.... of the provisions of Chapter VI-A other than the provisions of sub-section (2) of section 80CCD or sub-section (2) of section 80CCH or section 80JJAA;"; (b) in sub-section (3), after the proviso, the following proviso shall be inserted, namely:- "Provided further that in a case where,- (i) the assessee has not exercised the option under sub-section (5) for any previous year relevant to the assessment year beginning on or before the 1st day of April, 2023; (ii) the income-tax on the total income of the assessee is computed under sub-section (1A); and (iii) there is a depreciation allowance in respect of a block of assets which has not been given full effect prior to the assessment year beginning ....