Section 17 - Amendment of Section 80L - Finance (No. 2) Act, 1971

17. Amendment of Section 80L In section 80L of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 1972, - (a) for the words Where the gross total income of an assessee includes any income by way of - , the following shall be substituted, namely :- Where the gross total income of an assessee, being - (a) an individual, or (b) a Hindu undivided family, or (c) an association of persons or a body of individuals consisting only of husband and wife governed by the system of community of property in force in the Union territories of Dadra and Nagar Haveli and Goa, Daman and Diu, includes any income by way of - ; (b) in clause (vi), the word or occurring at the end shall be omitted; (c) in clause (vii), for the word and figures section 36, , the words and figures section 36; or shall be substituted; (d) after clause (vii), the following clause shall be inserted, namely :- (viii) interest on deposits with a co-operative society, not being a co-operative society referred to in clause (vi), made by a member of the society, .