Section 7 - Amendment of Section 13 - Finance (No. 2) Act, 1977

7. Amendment of Section 13 In section 13 of the Income-tax Act, w.e.f. the 1st day of April, 1978, - (a) in sub-section (1), in clause(d), - (i) for the figures, letter and words 1st day of April, 1979 , the figures, letters and words 1st day of April, 1982 shall be substituted; (ii) for the figures, letters and words 1st day of April, 1978 , the figures, letters and words 1st day of April, 1981 shall be substituted; (b) in sub-section (5), in clause (a), for sub-clause (iii), the following sub-clause shall be substituted, namely :- (iii) deposit in any account with a scheduled bank or a co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank or a co-operative land development bank). Explanation : In this sub-clause scheduled bank shall have the same meaning as in the Explanation at the end of clause (b) of sub-section (2) of section 11 .