# The Finance Act, 1992, Section 71: Amendment of section 194A

- Act: The Finance Act, 1992 (Act 18 of 1992)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1992/section/71/

## Text

Amendment of section 194A. 71. In section 194A of," the Income-tax Act, with effect from the 1st day of June, 1992,— (a) in sub-section (1), the proviso shall be omitted; (b) sub-section (2) shall be omitted; (c) in sub-section (3)., for clauses (vii) and (viia), the following clause shall be substituted, namely: — "(vii) to such income credited or paid in respect of deposits with a banking company to which the Banking Regulation Act, 1949,(10 of 1949)applies (including any bank or banking institution referred to in section 51 of that Act), or with a co-operative society engaged in carrying on the business of banking (including a cooperative land mortgage bank or a co-operative land development bank);"; (d) the Explanation occurring at the end shall be omitted, [Finance Act, 1992] © Copyright. Taxmann Publications Pvt. Ltd.

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