# The Finance Act, 1976, Section 30: Amendment of Act 45 of 1974

- Act: The Finance Act, 1976 (Act 66 of 1976)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1976/section/30/

## Text

Interest-tax Amendment of Act 45 of 1974 30. In section 2 of the Interest-tax Act, 1974, in clause (7), with' effect from the 1st day of April, 1977,— (a) in sub-clause (i), the word "and "shall be omitted; (b) in sub-clause (ii), the word "and "shall be inserted at the end; (c) after sub-clause (ii), the following Sub-clause shall be inserted, namely:— "(iii) interest on moneys lent for the creation of a capital asset in India where the agreement under which such moneys are lent provides for the repayment thereof during a period of not less than seven years;". [Finance Act, 1976] © Copyright. Taxmann Publications Pvt. Ltd.

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