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Section38
The Finance Act, 1991

Amendment of section 88

In force Act 49 of 1991 As on 16 Oct 2026

Act 49 of 1991 Ministry Finance Cited by 1 provision

Section 38 of the Finance Act, 1991 deals with amendment of section 88. Amendment of section 88. 38. In section 88 of the Income-tax Act, in sub-section (2), with effect from the 1st day of April, 1992 — (a) after clause (xiv), the following clause shall be inserted, namely: — " (xiva) as subscription to any such deposit scheme of— (a) a public sector company which is e

Amendment of section 88.

38. In section 88 of the Income-tax Act, in sub-section (2), with effect from the 1st day of April, 1992 —

(a) after clause (xiv), the following clause shall be inserted, namely: —

" (xiva) as subscription to any such deposit scheme of—

(a) a public sector company which is engaged in providing long-term finance for construction or purchase of houses in India for residential purposes; or

(b) any authority constituted in India by or under any law enacted either for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages, or for both, not being a scheme the interest on deposits where under qualifies for the purposes of computing the deduction under section SOL, as the Central Government may, by notification in the Official Gazette, specify in this behalf;";

(b) in clause (xv),—

(i) the words, figures and letters "construction of which is completed after the 31st day of March, 1987, and the" shall be omitted;

(ii) sub-clause (B) shall be omitted.

[Finance (No.

2) Act, 1991]

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Section 38, The Finance Act, 1991 (Act 49 of 1991).

Cross-references

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

This section refers to

  1. s. 88 Amendment of section 26

Referred to by 1

  1. s. First Schedule First Schedule

Questions about Section 38

What does Section 38 of the Finance Act deal with?

Section 38 of the Finance Act is headed "Amendment of section 88". Amendment of section 88. 38. In section 88 of the Income-tax Act, in sub-section (2), with effect from the 1st day of April, 1992 — (a) after clause (xiv), the following clause shall be inserted, namely: — " (xiva) as subscription to any such deposit scheme of— (a) a public sector company which is e

How do I find court cases under Section 38 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 1991 38, section 38 Finance Act 1991, section 38 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 38 of the Finance Act, and has it changed?

Its own text turns on section 88 (Amendment of section 26), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 1991 as Act 49 of 1991. 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.