# The Finance Act, 1988, Section 54: Consequential amendments

- Act: The Finance Act, 1988 (Act 26 of 1988)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1988/section/54/

## Text

Consequential amendments 54. The following amendments (being amendments of a consequential nature) shall be made in the Income-tax Act, namely: — (i) in section 2, in clause (24), sub-clause (viii) shall be omitted; (ii) in section 18, in sub-section (1), in clause (i), the words, figures and letters "not being interest payable under section 280D in respect of any annuity deposit made under Chapter XXIIA" shall be omitted; (iii) in section 29 [as amended by the Direct Tax Laws (Amendment) Act, 1987 (4 of 1988)], for the words, figures and letter "sections 30 to 43B", the words, figures and letter "sections 30 to 43C" shall be substituted; (iv) in section 33, in sub-section (2) and the Explanation thereunder, the words, figures and letter "or section 280-O" shall be omitted; (v) in section 33A, in sub-section (2) and the Explanation thereunder, the words, figures and letter "or section 280-O" shall bo omitted; (vi) in section 80B, in clause (5), the words, figures and letter "or under section 280-O" shall be omitted; (vii) in section 80J, in sub-section (3), the words, figures and letter "or section 280-O" shall be omitted; (viii) in section 80L, in sub-section (1), in clause (i) the brackets, words, figures and letters "(not being interest payable under section 280D in respect of any annuity deposit made under Chapter XXIIA)" shall be omitted; (ix) in section 194A, in sub-section (1), for the words 'chargeable under the head "Interest on securities'", the words "by way of interest on securities" shall be substituted with effect from the 1st day of April, 1989; (x) in section 253, in sub-section (1), in clause (c), the words, figures and letter "or under section 285A" shall be omitted. [Finance Act, 1988] © Copyright. Taxmann Publications Pvt. Ltd.

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