Clause 36
Amendment of section 50
of Income Tax (Amendment No. 2) Bill
BillNot in forceProvision 36 of 43
Clause 36
Section 50(5) of the principal Act is amended by deleting the words “; but notwithstanding anything in paragraphs (a) and (b) a deduction shall be allowed of any amount by which the foreign tax in respect of the income exceeds the credit therefor” in the 8th to last lines of paragraph (c).