# The Finance Act, 1966, Section 11: Amendment of section 36

- Act: The Finance Act, 1966 (Act 13 of 1966)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1966/section/11/

## Text

Amendment of section 36 11. In section 36 of the Income-tax Act, in sub-section (1), in clause (viii), for the words "an amount not exceeding ten per cent. of the total income carried to such reserve account:", the following Shall be substituted, namely:— "an amount not exceeding— (a) in the case of a financial corporation whose paid-up share capital does not exceed three crores of rupees, twenty-five per cent., (b) in the case of any other financial corporation, ten per cent., of the total income carried to such reserve account:". [Finance Act, 1966] © Copyright. Taxmann Publications Pvt. Ltd.

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