 tile income-tax (amendment) bill, 1963 a billfurther to amend the income-tax act, 1961 be it enacted by parliament in the fourteenth year of the ltepublic of india ~ follows:"""'; 1 (i) this act may be called the income-tax (amendment) act, sbott t'tle 1963 and commencement s (2) it shall be deemed· to have come into force on the 1st day of april, 1963 41 qf 1961 z in section 33 of the income-tax act, 19th in sub-section (1) -amendmeat (a) in clause (i), the word "and" where it occurs last shall ~~tio be omitted; 10 (b) for clause (it), the following clauses shall be substituted, namely:-"(ii) in the case of machinery or plant installed before the 1st day of april, 1961, twenty-five per cent of the actual cost of the machinery or plant to the assessee; and is (iii) in the) case of machinery or plant installed after the 31st day of march, 1961-(a) where the machinery or plant is installed after the 31st day of march, 1963 and before the 1st day of april, 1966, for the purposes of business of mining coal, thirty-five per cent of the actual cost qf the machinery or plant to the assessee, find (b) in any other case, twenty per cent of the actual cost of the ma~hipery or plant to the as$esseea" it is desirable to provide a further incentive to concerns carrying on the business of mining of coal for installing new machinery or plant in their mines so as to achieve a larger production of coal which is at present needed in increasing quantities for meeting the requirements of steel and other expanding industries in our country with this purpose in view, the bill seeks to amend the income-tax act, 1961 for increa·sing the development rebate admissible in respect of new machinery or plan~ used in a business of mining of coal and installed during the pe~iod after 31st march, 1963 and before 1st april, 1966 from the existing rate of 20 per cent to 35 per cent of the cost thereof new delhi; morarji r desai the 23rd august, 1963  president's recommendation under articles 117 and 274 of the constitution of india0 '0' [copy of letter no 1 (127) 6a;tpl, dated the 26th· august, 1963 from shri morarji desai, minister of finance to the secretary, 'lqk sabha] - - - - - the president having been informed of the subject matter of the proposed income-tax (amendment) bill, 1963, has recommended under articles 117(1) and 274(1) of the\constitution, the in~roduc­tion of the said bill in the lok sabha  extract from the income-tax act, 1961 (43 of 1961) - • - • • chapter ivcomputation of total income - - - - - d-profits and gains of business 0'1' profession - - - - - 33 (1) in respect of a new ship acquired or new machinery or de"lop plant (other than office appliances or road transport vehicles) instal- me~ led after the 31st day of march, 1954, which is owned by the assessee re - and is wholly used for the purposes of the business carried on by him, a sum by way of development rebate, equivalent to-(i) in the case of a khlp acquired after the 31st day of dece~i:>~~j 1~7, f<?~y p~~,~en,t,and in the ,case ~~f a ship acquired before the 1st day of january, '1158, tvienty;ftve per cent of the actual cost of the ship to the' assessee, and (ii) in the case of machinery or plant installed before the 1st day of april, 1961, twenty-five per cent and in the case of ipachinery or plant installed after the 31st day of march, 1961, twenty per cent of the actual cost' of the machinery or plant to the assessee, shall, subject to the provisions of section 34, be allowed as a deduction in respect of the previous year in which the ship was acquired or the machinery or plant was installed or, if the ship, machinery or plant is first put to use in the immediately succeeding previoui year, then, in respect of that previous year - - - - - ----a bill 1\p1her to ~end ~ in~ome-~x act? '~j! --(shri morarji desai, minister of finance) 