Finance Act, 1987 Section 26 - Bare Act |
| State | Central Government |
| Year | 1987 |
| Section Title | Amendment of Section 56 |
In section 56 of the Income-tax Act, in sub-section (2), after clause (ib), the following clause shall be inserted with effect from the 1st day of April, 1988, namely :-
'(ic) income referred to in sub-clause (x) of clause (24) of section 2, if such income is not chargeable to income-tax under the head "Profits and gains of business or profession";'.