# The Finance Act, 1987, Section 16: Amendment of section 49

- Act: The Finance Act, 1987 (Act 11 of 1987)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1987/section/16/

## Text

Amendment of section 49. 16. In section 49 of the Income-tax Act, in sub-section (1), in clause (iii), f0r sub-clause (b), the following sub-clause shall be substituted with effect from the 1st day of April, 1988, namely:— "(b) on any distribution of assets on the dissolution of a firm, body of individuals, or other association: of persons, where such dissolution had, taken place at. any time before the 1st day of April, 1987, or". [Finance Act, 1987] © Copyright. Taxmann Publications Pvt. Ltd.

---
Published by eCourtsIndia together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957.