Amendment status not verified — confirm the current text below against the official source.
In section 196B of the Income-tax Act, for the words "at the rate of ten per cent.", the following shall be substituted and shall be deemed to have been substituted with effect from the 23rd day of July, 2024, namely:-- "at the rate of-- (a) ten per cent. in respect of income from units referred to in clause (i) of sub-section (1) of section 115AB; (b) ten per cent. in respect of long-term capital gains arising from transfer of units referred to in section 115AB, which takes place before the 23rd day of July, 2024; (c) twelve and one-half per cent. in respect of long-term capital gains arising from transfer of units referred to in section 115AB, which takes place on or after the 23rd day of July, 2024.".