Substitution of New Section For Section 115

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he Income-tax Act, the following section shall be substituted with effect from the 1st day of April, 1972, namely :- '115. Tax on capital gains in case of companies. - Where the total income of a co....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e per cent. on so much of the amount of such long-term capital gains as relate to buildings or lands or any rights in buildings or lands; and (b) at the rate of thirty-five per cent. on the balance ....