# The Finance Act, 1967, Section 36: Amendment of Act 7 of 1964

- Act: The Finance Act, 1967 (Act 20 of 1967)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1967/section/36/

## Text

Amendment of Act 7 of 1964 36. In the Companies (Profits) Surtax Act, 1964,— (a) in section 3, in sub-section (1),— (i) for the words "and Income-tax Officer", the words "Income-tax Officer and Inspector of Income-tax" shall be substituted; (ii) for the words "same as that he has", the words "same as he has" shall be substituted; (b) in section 18,— (i) for the figures, words and brackets "131 to 136 (both inclusive)", the figures, letters, words and brackets "118, 125, 129, 130, 130A, 131, 132, 132A, 133 to 136 (both inclusive)" shall be substituted; (ii) for the figures, words and brackets "287 to 293 (both inclusive)", the figures, letters, words and brackets "287, 288, 288A, 288B, 289 to 293 (both inclusive)" shall be substituted: (c) in the First Schedule, in rule 1,— (i) clause (v) shall be omitted with effect from the 1st day of April, 1968; (ii) for clause (vii), the following clause shall be substituted with effect from the 1st day of April, 1968, namely:— "(vii) an amount equal to fifty per cent. of the sum with reference to which a deduction is allowable to the company under the provisions of section 80G of the Income-tax Act;". [Finance (No. 2) Act, 1967] © Copyright. Taxmann Publications Pvt. Ltd.

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