# The Finance Act, 2004, Section 29: Amendment of section 115R

- Act: The Finance Act, 2004
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2004/section/29/

## Text

Amendment of section 115R. 29. In section 115R of the Income-tax Act, in sub-section (2),— (a ) for the words "at the rate of twelve and one-half per cent", the following shall be substituted with effect from the 9th day of July, 2004, namely:— "at the rate of— (i) twelve and one-half per cent on income distributed to any person being an individual or a Hindu undivided family; and (ii) twenty per cent on income distributed to any other person:"; (b ) in the proviso, the words, figures and letters "for a period of one year commencing from the 1st day of April, 2003" shall be omitted. © Copyright. Taxmann Publications Pvt. Ltd.

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