# The Finance Act, 1970, Section 23: Amendment of section 194A

- Act: The Finance Act, 1970 (Act 19 of 1970)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1970/section/23/

## Text

Amendment of section 194A 23. In section 194A of the Income-tax Act, in sub-section (3), after clause (v), the following clauses shall be inserted, namely:— " (vi) to such income credited or paid in respect of deposits under any scheme framed by the Central Government and notified by it in this behalf in the Official Gazette; (vii) to such income credited or paid in respect of deposits with a banking company to which the Banking Regulation Act, 1949 (10 of 1949), app- lies (including any bank or banking institution referred to in section 51 of that Act), or with a co-operative society engaged in carrying on the business of .banking (including a co-operative land mortgage bank or a co-operative land development bank) .". [Finance Act, 1970] © Copyright. Taxmann Publications Pvt. Ltd.

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