Section 3 - Amendment of section 2 - Direct Tax Laws (Amendment) Act, 1987

3. Amendment of section 2. In section 2 of the Income-tax Act,- (a) clauses (1) and (1A) shall be renumbered as clauses (1A) and (1B) respectively, and before clause (1A) as so renumbered, the following clause shall be inserted, namely :- (1) advance tax means the advance tax payable in accordance with the provisions of Chapter XVII-C; ; (b) after clause (7), the following clause shall be inserted with effect from the 1st day of April, 1988, namely: - (7A) Assessing Officer means the Assistant Commissioner or the Income-tax Officer who is vested with the relevant jurisdiction by virtue of directions or orders issued under sub-section (1) or sub-section (2) of section 120 or any other provision of this Act, and the Deputy Commissioner who is directed under clause (b) of sub-section (4) of that section to exercise or perform all or any of the powers and functions conferred on, or assigned to, an Assessing Officer under this Act; , (c) after clause (9), the following clause shall be inserted with effect from the 1st day of April, 1988, namely :- (9A) Assistant Commissioner means a person appointed to be an Assistant Commissioner of Income tax under sub-section (1) of section 117; ; (d) clause (15A) shall be renumbered as clause (15B), and before clause (15B) as so renumbered, the following clause shall be inserted with effect from the 1st day of April, 1988, namely :- (15A) Chief Commissioner means a person appointed to be a Chief Commissioner of Income-tax under sub-section (1) of section 117; ; (e) in clause (16), the words , and includes a person appointed to be an Additional Commissioner of Income-tax under that sub-section shall be omitted with effect from the 1st day of April, 1988; (f) after clause (19), the following clauses shall be inserted with effect from the 1st day of April, 1988, namely :- (19A) Deputy Commissioner means a person appointed to be a Deputy Commissioner of Income-tax under sub-section (1) of section 117; (19B) Deputy Commissioner (Appeals) means a person appointed to be a Deputy Commissioner of Income-tax (Appeals) under sub-section (1) of section 117; ; (g) for clause (21), the following clause shall be substituted with effect from the 1st day of April, 1988, namely :- (21) Director General or Director means a person appointed to be a Director General of Income-tax or, as the case may be, a Director of Income-tax, under sub-section (1) of section 117, and includes a person appointed under that sub-section to be a Deputy Director of Income-tax or an Assistant Director of Income-tax; ; (h) clause (22A) shall be renumbered as clause (22B), and before clause (22B) as so renumbered, the following clause shall be inserted, namely :- (22A) domestic company means an Indian company, or any other company which, in respect of its income liable to tax under this Act, has made the prescribed arrangements for the declaration and payment, within India, of the dividends (including dividends on preference shares) payable out of such income; ; (i) after clause (23), the following clause shall be inserted, namely :- (23A) foreign company means a company which is not a domestic company; ; (j) in clause (24), in sub-clause (iia), for the words , not being contributions made with a specific direction that they shall form part of the corpus of the trust or institution , the words, brackets, letters and figures or by a trust or institution of national importance referred to in clause (d) of sub-section (1) of section 80F shall be substituted; (k) for clause (25), the following clause shall be substituted with effect from the 1st day of April, 1988, namely :- (25) Income-tax Officer means a person appointed to be an Income-tax Officer under sub-section (1) of section 117; ; (l) clause (27) shall be omitted with effect from the 1st day of April, 1988; (m) in clause (28), for the word, brackets and figure sub-section (2) , the word, brackets and figure sub-section (1) shall be substituted with effect from the 1st day of April, 1988; (n) after clause (29B) [as inserted by clause (c) of section 3 of the Finance Act, 1987 (11 of 1987)], the following clause shall be inserted, namely :- (29C) maximum marginal rate means the rate of income-tax (including surcharge on income-tax, if any) applicable in relation to the highest slab of income in the case of an individual as specified in the Finance Act of the relevant year; ; (o) in clause (37A),- (i) in sub-clause (i),- (1) the words, brackets, figures and letter or sub-section (9) of section 80E from any payment referred to therein shall be omitted; (2) for the words, figures and letter section 115B or section 164 , at both the places where they occur, the words, figures and letters section 115B or section 115BB or section 115E or section 164 or section 164A or section 167A shall be substituted with effect from the 1st day of April, 1988; (3) after the words, figures and letter or section 167A , at both the places where they occur, the words, figures and letter or section 167B shall be inserted; (4) for the words, figures and letter section 115B or, as the case may be, section 164 , the words, figures and letters section 115B or section 115BB or section 115E or section 164 or section 164A or section 167A, as the case may be, shall be substituted with effect from the 1st day of April, 1988; (5) after the word, figures and letter section 167A , in the third place where they occur, the words, figures and letter or section 167B shall be inserted; (ii) in sub-clause (ii), for the figures, letter and word 194D and 195 , the figures, letters and word 194D, 194E and 195 shall be substituted with effect from the 1st day of April, 1988; (p) clause (39) shall he omitted; (q) clause (43B) shall be omitted; (r) for clause (44), the following clause shall be substituted, namely :- (44) Tax Recovery Officer means any Income-tax Officer who may be authorised by the Chief Commissioner or Commissioner, by general or special order in writing, to exercise the powers of a Tax Recovery Officer; ; (s) clause (48) shall be omitted.