Clause 13

The Second Schedule to the principal Act is amended by deleting Part A and substituting the following Part: —“Part ARates of Income Tax on Chargeable Income of An Individual or A Hindu Joint FamilyChargeable Income. $ Rate of Tax.For every dollar of the first 5,000 4 per centFor every dollar of the next 2,500 7 per centFor every dollar of the next 2,500 9 per centFor every dollar of the next 5,000 12 per centFor every dollar of the next 5,000 14 per centFor every dollar of the next 5,000 17 per centFor every dollar of the next 10,000 21 per centFor every dollar of the next 15,000 25 per centFor every dollar of the next 25,000 30 per centFor every dollar of the next 25,000 32 per centFor every dollar of the next 100,000 35 per centFor every dollar of the next 200,000 40 per centFor every dollar of the next 350,000 43 per centFor every dollar exceeding 750,000 45 per cent.”.