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TypeBare Act JurisdictionCentral Government

Finance (No. 2) Act, 1996 Section 3

Amendment of Section 2

~1 min read
https://sooperkanoon.com/act/15080

Bare act section · Research

About this section

Finance (No. 2) Act, 1996 Section 3 is part of Finance (No. 2) Act, 1996 - Amendment of Section 2. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 2 of the Income-tax Act with effect from the 1st day of October, 1996, -

(a) in clause (7A), for the words "Assistant Commissioner" and "Deputy Commissioner", the words "Assistant Commissioner or Assistant Director" and "Deputy Commissioner or Deputy Director" shall respectively be substituted;

(b) in clause (24), after sub-clause (x), the following sub-clause shall be inserted, namely :-

'(xi) 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 the Explanation to clause (10D) of section 10;'.

Frequently asked questions

What does Finance (No. 2) Act, 1996 Section 3 provide?

Section Section 3 of the Finance (No. 2) Act, 1996 (Amendment of Section 2) is reproduced on this page as part of the Finance (No. 2) Act, 1996. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance (No. 2) Act, 1996 Section 3?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance (No. 2) Act, 1996 Section 3. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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