Amendment to Section 18: Excludes Interest on Annuity Deposits from Income Tax Act Provisions Under Finance Act 1965.
Section 18 of the Income Tax Act has been amended by the Finance Act of 1965. In clause (i) of subsection (1), the amendment adds the phrase "not being interest payable under section 280D in respect of any annuity deposit made under Chapter XXIIA" following the word "Government." This change specifies that certain interest payments related to annuity deposits are excluded from the provisions of this section.
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