[1][115JB. Special provision for payment of tax by certain companies.

(1) Notwithstanding anything contained in any other provision of this Act, where in the case of an assessee, being a company, the income-tax, payable on the total income as computed under this Act in respect of any previous year relevant to the assessment year commencing on or after [2][the 1st day of April, 2012], is less than [3][eighteen and one-half per cent] of its book profit, [4][such book profit shall be deemed to be the total income of the assessee and the tax payable by the assessee on such total income shall be the amount of income-tax at the rate of [5][eighteen and one-half per cent].]

[6][Provided that for the previous year relevant to the assessment year commencing on or after the 1st day of April, 2020, the provisions of this sub-section shall have effect as if for the words 'eighteen and one-half per cent.' occurring at both the places, the words 'fifteen per cent.' had been substituted.]

(2) [7][Every assessee,