Amendment of section 36

Section 9 of the Finance Act, 2006 deals with amendment of section 36. Amendment of section 36. 9. In section 36 of the Income-tax Act, in sub-section (1),— (a ) for clause (ib), the following clause shall be substituted with effect from the 1st day of April, 2007, namely:— "(ib) the amount of any premium paid by cheque by the assessee as an employer to effect or to ke

Amendment of section 36.

9. In section 36 of the Income-tax Act, in sub-section (1),—

(a ) for clause (ib), the following clause shall be substituted with effect from the 1st day of April, 2007, namely:—

"(ib) the amount of any premium paid by cheque by the assessee as an employer to effect or to keep in force an insurance on the health of his employees under a scheme framed in this behalf by—

(A ) the General Insurance Corporation of India formed under section 9 of the General Insurance Business (Nationali-sation) Act, 1972 (57 of 1972) and approved by the Central Government; or

(B ) any other insurer and approved by the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);";

(b ) in clause (iiia), in the Explanation, clause (iii) shall be omitted;

(c ) in clause (viii), in the Explanation, for clause (d), the following clause shall be substituted with effect from the 1st day of April, 2007, namely:—

‘(d) "infrastructure facility" means—

(i ) an infrastructure facility as defined in the Explanation to clause (i) of sub-section (4) of section 80-IA, or any other public facility of a similar nature as may be notified by the Board in this behalf in the Official Gazette and which fulfils the conditions as may be prescribed;

(ii ) an undertaking referred to in clause (ii ) or clause (iii) or clause (iv) of sub-section (4) of section 80-IA; and

(iii ) an undertaking referred to in sub-section (10) of section 80-IB;’.

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Section 9, The Finance Act, 2006.