Amendment of section 115R.

29. In section 115R of the Income-tax Act, in sub-section (2),ó

ÝÝÝÝÝÝÝ (a)Ý for the words ìat the rate of twelve and one-half per centî, the following shall be substituted with effect from the 9th day of July, 2004, namely:ó

ÝÝÝÝÝÝÝÝÝÝÝÝÝ ìat the rate ofó

ÝÝÝÝÝ (i)Ý twelve and one-half per cent on income distributed to any person being an individual or a Hindu undivided family; and

ÝÝÝÝ (ii)Ý twenty per cent on income distributed to any other person:î;

ÝÝÝÝÝÝÝ (b)Ý in the proviso, the words, figures and letters ìfor a period of one year commencing from the 1st day of April, 2003î shall be omitted.