Clause 63

The Second Schedule to the principal Act is amended by deleting Part A and substituting the following Part:“Part ARates of Tax on Chargeable Income of An Individual or A Hindu Joint FamilyChargeable Income$Rate of TaxFor every dollar of the first20,000NilFor every dollar of the next10,0004.0%For every dollar of the next10,0006.0%For every dollar of the next40,0009.0%For every dollar of the next80,00015.0%For every dollar of the next160,00019.0%For every dollar exceeding320,00022.0%”.