Section 27 - Amendment of Section 164 - Finance Act, 1972

27. Amendment of Section 164 In section 164 of the Income-tax Act, with effect from the 1st day of April, 1973, - (a) in sub-section (2), for the words and figures tax shall be charged on so much of the relevant income as is not exempt under section 11 , the words, brackets, figures and letter or which is of the nature referred to in sub-clause (iia) of clause (24) of section 2, tax shall be charged on so much of the relevant income as is not exempt under section 11 or section 12 shall be substituted; (b) in sub-section (3), for the words In a case where the relevant income is derived from property held under trust in part only for charitable or religious purposes , the words, brackets, figures and letter In a case where the relevant income is derived from property held under trust in part only for charitable or religious purposes or is of the nature referred to in sub-clause (iia) of clause (24) of section 2 shall be substituted.