# The Finance Act, 1996, Section 10: Amendment of section 28

- Act: The Finance Act, 1996 (Act 33 of 1996)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1996/section/10/

## Text

Amendment of section 28. 10. In section 28 of the Income-tax Act, after clause (v), the following clause shall be inserted with effect from the 1st day of October, 1996, namely:— '(vi)any sum, received under a Keyman insurance policy including the sum allocated by way of bonus on such policy. Explanation.—For the purposes of this clause, the expression "Keyman insurance policy" shall have the meaning assigned to it in clause (10D) of section 10;'. [Finance (No. 2) Act, 1996] © Copyright. Taxmann Publications Pvt. Ltd.

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