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Section27
The Finance Act, 1989

Amendment of section 5

In force Act 13 of 1989 As on 14 Oct 2026

Act 13 of 1989 Ministry Finance

Section 27 of the Finance Act, 1989 deals with amendment of section 5. 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 da

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]

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Section 27, The Finance Act, 1989 (Act 13 of 1989).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 5 Amendment of Section 16
  2. Income-tax Act s. 10 Incomes not included in total income
  3. Income-tax Act s. 80CCA Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan
  4. National Housing Bank Act s. 3 Establishment and incorporation of National Housing Bank
  5. Wealth-tax Act s. 5 Exemptions in respect of certain assets

Questions about Section 27

What does Section 27 of the Finance Act deal with?

Section 27 of the Finance Act is headed "Amendment of section 5". 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 da

How do I find court cases under Section 27 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1989 27, section 27 Finance Act 1989, section 27 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 27 of the Finance Act, and has it changed?

Its own text turns on section 5 (Amendment of Section 16), Income-tax Act 10 (Incomes not included in total income), Income-tax Act 80CCA (Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan), National Housing Bank Act 3 (Establishment and incorporation of National Housing Bank), and on 1 further provision, so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 1989 as Act 13 of 1989. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.