Amendment of section 11
Section 6 of the Finance Act, 1977 deals with amendment of section 11. Amendment of section 11 6. In section 11 of the Income-tax Act, in clause (b) of sub-section (2), with effect from the 1st day of April, 1978,— (a) for sub-clause (ii), the following sub-clause shall be substi tuted, namely: — "(ii) deposited in any account with the Post Office Savings Bank [includi The Act was enacted on 06 Aug 1977.
Amendment of section 11
6. In section 11 of the Income-tax Act, in clause (b) of sub-section (2), with effect from the 1st day of April, 1978,—
(a) for sub-clause (ii), the following sub-clause shall be substi tuted, namely: —
"(ii) deposited in any account with the Post Office Savings Bank [including deposits made under the Post Office (Time Deposits) Rules, 1970] or a scheduled bank or 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):
Provided that the money so accumulated or set apart may also be deposited, or continue to remain deposited, during any previous year commencing before the 1st day of April, 1981 with any other banking company, being a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies, or";
(b) after sub-clause (iii), the following Explanation shall be in serted, namely: —
'Explanation.—For the purposes of sub-clause (ii), "scheduled bank" means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (33 of 1959), a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or any other bank, being a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934).'.
[Finance (No.
2) Act, 1977]
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Section 6, The Finance Act, 1977 (Act 11 of 1977).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 6
What does Section 6 of the Finance Act deal with?
Section 6 of the Finance Act is headed "Amendment of section 11". Amendment of section 11 6. In section 11 of the Income-tax Act, in clause (b) of sub-section (2), with effect from the 1st day of April, 1978,— (a) for sub-clause (ii), the following sub-clause shall be substi tuted, namely: — "(ii) deposited in any account with the Post Office Savings Bank [includi
How do I find court cases under Section 6 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1977 6, section 6 Finance Act 1977, section 6 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 6 of the Finance Act, and has it changed?
Its own text turns on Banking Companies (Acquisition and Transfer of Undertakings) Act 3 (Establishment of corresponding new banks and business thereof), section 11 (Amendment of section 36), Income-tax Act 11 (Income from property held for charitable or religious purposes), so none of them can safely be read on its own.
When was Section 6 of the Finance Act enacted?
Section 6 of the Finance Act, cited as Finance Act 1977 6, was enacted on 06 Aug 1977 as Act 11 of 1977. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule6584 words
- Fifth Schedule. Fifth Schedule3796 words
- 2. Income-tax1831 words
- 18. Insertion of new section 80HHA832 words
- 38. Amendment of Act 8 of 1976797 words
- 9. Amendment of section 32A676 words
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