Clause 45
Amendment of Second Schedule
of Income Tax (Amendment) Bill
BillNot in forceProvision 45 of 49
Clause 45
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 first $20,000 NilFor every dollar of the next $10,000 3.75%For every dollar of the next $10,000 5.75%For every dollar of the next $40,000 8.75%For every dollar of the next $80,000 14.5%For every dollar of the next $160,000 18.0%For every dollar exceeding $320,000 21.0%”.