Clause 18

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 TaxFor every dollar of the first2,5004 per centFor every dollar of the next2,5007 per centFor every dollar of the next2,5009 per centFor every dollar of the next2,50011 per centFor every dollar of the next5,00014 per centFor every dollar of the next5,00017 per centFor every dollar of the next5,00021 per centFor every dollar of the next10,00026 per centFor every dollar of the next15,00032 per centFor every dollar of the next25,00034 per centFor every dollar of the next25,00036 per centFor every dollar of the next100,00040 per centFor every dollar of the next200,00045 per centFor every dollar of the next200,00050 per centFor every dollar exceeding600,00055 per cent”.