Section 13 - Amendment of section 86 - Finance Act, 1981

13. Amendment of section 86 In section 86 of the Income-tax Act, in clause (v), the following Explanation shall be inserted, namely :- Explanation : For the purposes of this clause, in the case of an association of persons which is assessable under section 167A, each of the members of the association whose shares in the income or, as the case may be, part of the income of such association are indeterminate or Unknown, shall be deemed to be entitled to receive an equal share in the total income or as the case may be, such part of the total income of the association and the individual share of such member in such total income or, as the case may be, Part of the total income shall be determined accordingly. .