# The Finance Act, 1986, Section 20: Amendment of section 80L

- Act: The Finance Act, 1986 (Act 23 of 1986)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1986/section/20/

## Text

Amendment of section 80L. 20. In section 80L of the Income-tax Act, with effect from the 1st day of April, 1987,— (a) in sub-section (1), for clause (ii), the following clause shall be substituted, namely: — '(ii) interest on such debentures, issued by any institution or authority, or any public sector company, or any co-operative society (including a co-operative land mortgage bank or a cooperative land development bank), as the Central Government may, by notification in the Official Gazette, specify in this behalf. Explanation.—For the purposes of this clause, "public sector company" means any corporation established by or under any . Central, State or Provincial Act or a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956 ); (b) subsection (2) shall be omitted. [Finance Act, 1986] © Copyright. Taxmann Publications Pvt. Ltd.

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