# The Finance Act, 2009, Section 15: Amendment of section 40

- Act: The Finance Act, 2009
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2009/section/15/

## Text

Amendment of section 40. 15. In section 40 of the Income-tax Act, in clause (b), in sub-clause (v), for items (1) and (2), the following shall be substi­tuted with effect from the 1st day of April, 2010, namely :— "(a) on the first Rs. 3,00,000 of the book-profit or in case of a loss | Rs. 1,50,000 or at the rate of 90 per cent of the book-profit, whichever is more; (b) on the balance of the book-profit | at the rate of 60 per cent". © Copyright. Taxmann Publications Pvt. Ltd.

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