- In section 55 of the Income-tax Act, with effect from the 1st day of April, 2018,-(A)in sub-section (1), in clause (b), in sub-clause (2), in item (i), for the figures, letters and words "1st day of April, 1981", the figures, letters and words "1st day of April, 2001" shall be substituted;(B)in sub-section (2), in clause (b), for the figures, letters and words "1st day of April, 1981" wherever they occur, the figures, letters and words "1st day of April, 2001" shall be substituted.
