- In section 115A of the Income-tax Act,-(I)in sub-section (1), in clause (a), with effect from the 1st day of April, 2021,-(i)the words, figures and letter "other than dividends referred to in section 115-O" at both the places where they occur, shall be omitted;(ii)in the long line, for clause (BA), the following clause shall be substituted, namely:-"(BA) the amount of income-tax calculated on the amount of income by way of interest referred to in,-(i)sub-clause (iia), if any, included in the total income, at the rate of five per cent.;(ii)sub-clause (iiaa) or sub-clause (iiab) or sub-clause (iiac), if any, included in the total income, at the rate provided in the respective sections referred to in the said sub-clauses;";(II)in sub-section (5), -(i)in clause (a), for the word, brackets and letter "clause (a)", the words, brackets and letters "clause (a) or clause (b)" shall be substituted;(ii)for clause (b), the following clause shall be substituted, namely: -"(b) the tax deductible at source under the provisions of Part B of Chapter XVII has been deducted from such income and the rate of such deduction is not less than the rate specified under clause (a) or, as the case may be, clause (b) of sub-section (1).".
