# The Finance Act, 1991, Section 3: Amendment of section 2

- Act: The Finance Act, 1991 (Act 49 of 1991)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1991/section/3/

## Text

CHAPTER III Direct taxes Income-tax Amendment of section 2. 3. In section 2 of the Income-tax Act,— (a) in clause (29C), after the words "in the case of an individual", the words, ".association of persons or, as the case may be, body of individuals" shall be inserted; (b) in clause (37A), with effect from the 1st day of October, 1991,— (i) in sub-clause (ii), for the figures, letter and word ", 194D and 195" the word, figures and letter "and 194D" shall be substituted; (ii) after sub-clause (ii), the following sub-clause shall be inserted, namely: — " (iii) for the purposes of deduction of tax under section 195, the rate or rates of income-tax specified in section 115A or the rate or rates of income-tax specified in this behalf in the Finance Act of the relevant year, whichever is applicable;". [Finance (No. 2) Act, 1991] © Copyright. Taxmann Publications Pvt. Ltd.

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