AMENDMENT OF SECTION 234A Insection 234A of the Income-tax Act-,"
a) in sub-section (1)," (i) for the words "one and one-half per cent", the words "one and one - fourth per cent" shall be substituted with effect from the 1st day of June,2001; (ii) Explanation 4 shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1989; (b) in sub-section (3), for the words "one and one-half per cent", the words "one and one-fourth per cent" shall be substituted with effect from the 1st day of June, 2001.