Section 2 - Amendment of section 2 - Direct Tax Laws (Amendment) Act, 1989

CHAPTER II AMENDMENTS TO THE INCOME-TAX ACT, 1961 2. Amendment of section 2. In section 2 of the Income-tax Act, 1961 (43 of 1961) (hereafter in this Chapter referred to as the Income-tax Act),- (a) in clause (24),- (i) in sub-clause (iia) [as amended by section 3 of the Direct Tax Laws (Amendment) Act, 1987 (4 of 1988)], for 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 , the words, brackets, figures and letter or by an association or institution referred to in clause (21) or clause (23), or by a fund or trust or institution referred to in sub-clause (iv) or sub-clause (v) of clause (23C), of section 10 shall be substituted; (ii) after sub-clause (iii), the following sub-clauses shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1962, namely: - (iiia) any special allowance or benefit, other than perquisite included under sub-clause (iii), specifically granted to the assessee to meet expenses wholly, necessarily and exclusively for the performance of the duties of an office or employment of profit; (iiib) any allowance granted to the assessee either to meet his personal expenses at the place where the duties of his office or employment of profit are ordinarily performed by him or at a place where he ordinarily resides or to compensate him for the increased cost of living; ; (b) in clause (25) [as substituted by clause (k) of section 3 of the Direct Tax Laws (Amendment) Act, 1987 (4 of 1988)], the words, brackets and figure sub-section (1) of shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1988; (c) in clause (37A) [as amended by clause (o) of section 3 of the Direct Tax Laws (Amendment) Act, 1987 (4 of 1988)], - (A) in sub-clause (i), the words, figures and letter or section 167A , wherever they occur, shall be omitted; (B) in sub-clause (ii), the figures and letter , 194E shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1988.