Section 10 - Amendment of section 28 - Finance (No. 2) Act, 1996

10. Amendment of section 28 In section 28 of the Income-tax Act, after clause (v), the following clause shall be inserted with effect from the 1st day of October, 1996, namely :- (vi) any sum received under a Keyman insurance policy including the sum allocated by way of bonus on such policy. Explanation : For the purposes of this clause, the expression Keyman insurance policy shall have the meaning assigned to it in clause (10D) of section 10; .