Section 36 - Amendment of Act 7 of 1964 - Finance (No. 2) Act, 1967

36. Amendment of Act 7 of 1964 In the Companies (Profits) Surtax Act, 1964, - (a) In section 3, in sub-section (1), - (i) for the words and Income-tax Officer , the words Income-tax Officer and Inspector of Income-tax shall be substituted; (ii) for the words same as that he has , the words same as he has shall be substituted; (b) in section 18, - (i) for the figures, words and brackets 131 to 136 (both inclusive) , the figures, letters, words and brackets 118, 125, 129, 130, 130A, 131, 132, 132A, 133 to 136 (both inclusive) shall be substituted; (ii) for the figures, words and brackets 287 to 293 (both inclusive) , the figures, letters, words and brackets 287, 288, 288A, 288B, 289 to 293 (both inclusive) shall be substituted. (c) in the First Schedule, in rule 1, - (i) clause (v) shall be omitted with effect from the 1st day of April, 1968; (ii) for clause (vii), the following clause shall be substituted with effect from the 1st day of April, 1968, namely :- (vii) an amount equal to fifty per cent. of the sum with reference to which a deduction is allowable to the company under the provisions of section 80G of the Income-tax Act; .