# The Finance Act, 1988, Section 3: Amendment of section 2

- Act: The Finance Act, 1988 (Act 26 of 1988)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1988/section/3/

## Text

CHAPTER III DIRECT TAXES Income-tax Amendment of section 2 3. In section 2 of the Income-tax Act, after clause (28A), the following clause shall be inserted with effect from the 1st day of April, 1989, namely:— '(28B) "interest on securities" means— (i) interest on any security of the Central Government or a State Government; (ii) interest on debentures or other securities for money issued by or on behalf of a local authority or a company or a corporation established by a Central, State or Provincial Act;'. [Finance Act, 1988] © Copyright. Taxmann Publications Pvt. Ltd.

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