- In this Chapter -(a)"accountant" shall have the same meaning as in the Explanation below sub-section (2) of section 288;(b)[ "alternate minimum tax" means the amount of tax computed on adjusted total income, - [Substituted by Finance Act, 2018 (Act No. 13 of 2018), dated 29.3.2018.](i)in case of an assessee being a unit referred to in sub-section (4) of section 115JC, at a rate of nine per cent.;Following sub-clauses (i) and (ia) shall be substituted for the existing sub-clause (i) of clause (b) of section 115JF by the Finance Act, 2022, w.e.f. 1-4-2023:(i)in case of an assessee being a unit referred to in clause (i) of sub-section (4) of section 115JC, at the rate of nine per cent;(ia)in case of an assessee, being a co-operative society referred to in clause (ii) of sub-section (4) of section 115JC, at the rate of fifteen per cent;(ii)in any other case, at a rate of eighteen and one-half per cent.;](ba)[ "convertible foreign exchange" means a foreign exchange which is for the time being treated by the Reserve Bank of India as convertible foreign exchange for the purpose of the Foreign Exchange Management Act, 1999 and the rules made thereunder; [Inserted by Finance Act, 2018 (Act No. 13 of 2018), dated 29.3.2018.](bb)"International Financial Services Centre" shall have the meaning assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005;][***] [Clause (c) omitted by Act 23 of 2012, section 54 (w.e.f. 1-4-2013).](d)"regular income-tax" means the income-tax payable for a previous year by [a person on his total income] [Inserted by ActNo. 23 of 2012, section 53, (w.e.f. 1-4-2013).] in accordance with the provisions of this Act other than the provisions of this Chapter.](e)[ "unit" means a unit established in an International Financial Services Centre.] [Inserted by Finance Act, 2018 (Act No. 13 of 2018), dated 29.3.2018.]
