# The Finance Act, 1990, Section 13: Amendment of section 43B

- Act: The Finance Act, 1990 (Act 12 of 1990)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1990/section/13/

## Text

Amendment of section 43B 13. In section 43B of the Income-tax Act, with effect from the 1st day of April, 1991,— (a) in clause (d), after the words "any public financial institution", the words "or' a State financial corporation or a State industrial investment corporation" shall be inserted; (b) for Explanation 4, the. following Explanation shall be substituted, namely: — 'Explanation 4.—For the purposes of this section,— (a) "public financial institution" shall have the meaning assigned to it in section 4A of the Companies Act, 1956 (1 of 19586); (b) "State financial corporation" means a financial corporation established under section 3 or section 3A or an institution notified under section 46 of the State Financial Corporations Act, 1951 (63 of 1951); (c) "State industrial investment corporation" means a Government company within the meaning; of section 617 of the Companies Act, 1956 (1 of 1956), engaged in the business of providing long-term finance for industrial projects and approved by the Central Government under clause (viii) of sub-section (1) of section 36.'. [Finance Act, 1990] © Copyright. Taxmann Publications Pvt. Ltd.

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