# The Finance Act, 1989, Section 27: Amendment of section 5

- Act: The Finance Act, 1989 (Act 13 of 1989)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1989/section/27/

## Text

Wealth-tax Amendment of section 5 27. In section 5 of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act),— (a)  in sub-section (1),— (i) after clause (xxvb),  the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1988, namely:— "(xxvc) the right or interest of the assessee in any annuity plan of the Life Insurance Corporation referred to in clause (ii) of sub-section (1) of section 80CCA of the Income-tax Act;"; (ii) after clause (xxviib),  the following clauses shall be inserted with effect from the 1st day of April, 1990, namely:— "(xxviic) any deposits made in accordance with the scheme referred to in item (i) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, by any employee of the Central Government or a State Government; (xxviid) any deposits made with the. National Housing Bank established under section 3 of the National Housing, Bank Act, 1987 (53 of 1987);"; (b) in sub-section (1A),  after the brackets, figures and letter "(xxviib),", the brackets, figures and letter "(xxviid),"  shall be inserted with effect from the 1st day of April, 1990. [Finance Act, 1989] © Copyright. Taxmann Publications Pvt. Ltd.

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