In the Expenditure-tax Act, 1987 (35 of 1987) (hereinafter referred to as the Expenditure-tax Act), in section 3, with effect from the 1st day of June, 1992, -
(a) in clause (1), for the words "four hundred rupees", the words "one thousand two hundred rupees" shall be substituted;
(b) in clause (2), the words, figures and letters "before the 1st day of June, 1992" shall be inserted at the end.