Section 66 - Amendment of Fourth Schedule - Finance Act, 1965

66. Amendment of Fourth Schedule In the Fourth Schedule to the Income tax Act, (a) in Part A,- (i) in rule 6, the words and super tax shall be omitted; (ii) for rule 7, the following rule shall be substituted, namely :- 7. Exemption for employees contributions. An employee participating in a recognised provident fund shall, in respect of his own contributions to his individual account in the fund in the previous year, be entitled to a deduction in the computation of his total income of an amount determined in accordance with section 80A or, as the case may be, to a deduction from the amount of income tax with which he is chargeable on his total income of an amount of income tax determined in accordance with section 87. ; (iii) in sub rule (1) of rule 9, for the words income tax and super tax , wherever they occur, the word tax shall be substituted; (iv) in sub rule (3) of rule 11, the words and super tax shall be omitted; (v) in clause (d) of sub rule (1) of rule 15, for the words income tax and super tax , the word tax shall be substituted; (b) in Part B,- (i) in rule 5, the words and super tax shall be omitted; (ii) in rule 6,- (a) for the words income tax and super tax , wherever they occur, the word tax shall be substituted; (b) after the words paid to an employee during his lifetime, , the words, brackets and figures in circumstances other than those referred to in clause (13) of section 10 shall be inserted; (iii) in clause (e) of sub rule (1) of rule 11, for the words income tax and super tax , the word tax shall be substituted; (c) in Part C, in rule 7, the words and super tax shall be omitted.