In section 135 of the principal Act,—

(i)

in sub-section (1),-

(a) for the words "any financial year ", the words "the immediately preceding financial year " shall be substituted;

(b) the following proviso shall be inserted, namely:—

(ii)

in sub-section (3), in clause (a), for the words and figures "as specified in Schedule VII", the words and figures "in areas or subject, specified in Schedule VII" shall be substituted;

(iii)

in sub-section (5), for the Explanation, the following Explanation shall be substituted, namely:—

'Explanation.—For the purposes of this section "net profit " shall not include such sums as may be prescribed, and shall be calculated in accordance with the provisions of section 198.'