Section 52 - Amendment of section 5 - Finance Act, 1990

52. Amendment of section 5 In section 5 of the Wealth-tax Act, in sub-section (1), in clause (xxviic), with effect from the 1st day of April, 1991, - (i) after the words State Government , the words or a public sector company shall be inserted; (ii) the following Explanation shall be inserted at the end, namely :- Explanation : For the purposes of this clause, public sector company means any corporation established by or under any Central, State or Provincial Act or a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956); .