# The Finance Act, 1977, Section 7: Amendment of section 13

- Act: The Finance Act, 1977 (Act 11 of 1977)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1977/section/7/

## Text

Amendment of section 13 7. In section 13 of the Income-tax Act, with effect from the 1st day of April, 1978,— (a) in sub-section (1), in clause (d),— (i) for the figures, letters and words "1st day of April, 1979", the figures, letters and words "1st day of April, 1982" shall be Substituted; (ii) for the figures, letters and words "1st day of April, 1978", the figures, letters and words "1st day of April. 1981" shall be substituted; (b) in sub-section (5), in clause (a), for sub-clause (iii), the following sub-clause shall be substituted, namely: — ' (iii) deposit in any account with 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 cooperative land development bank). Explanation.—In this sub-clause, "scheduled bank" shall have the same meaning as in the Explanation at the end of clause (b) of sub-section (2) of section 11.'. [Finance (No. 2) Act, 1977] © Copyright. Taxmann Publications Pvt. Ltd.

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