(2)[ Notwithstanding anything contained in sub-section (1) but subject to the other provisions of this Act, there shall be charged on every credit institution for every assessment year commencing on and from 1st day of April, 1992, interest-tax in respect of its chargeable interest of the previous year at the rate of three per cent of such chargeable interest.] [Remembered and Inserted by Act 49 of 1991, Section 93 (w.e.f. 1.10.1991).]
