Section 16 - Amendment of section 85A - Finance Act, 1966

16. Amendment of section 85A In section 85A of the. Incomer-tax Act,- (a) in the proviso,- (i) the words wholly or shall be omitted; (ii) for the words, figures and brackets the list in paragraph 2 of the Third Schedule to the Companies (Profits) Surtax Act, 1964 , the words the list in the Fifth Schedule shall be substituted; (b) in the Explanation, for the words, figures and brackets the list in paragraph 2 of the Third Schedule to the Companies (Profits) Surtax Act, 1964 , the words the list in the Fifth Schedule shall be substituted.