Section 12 - Amendment of section 49 - Taxation Laws (Amendment) Act, 1975

12. Amendment of section 49. In sub-section (1) of section 49 of the Income-tax Act, (a) after clause (iii), the following clause shall be inserted, namely: (iv) such assessee being a Hindu undivided family, by the mode referred to in sub-section (2) of section 64 at any time after the 31st day of December, 1969, ; (b) in the Explanation, for the words, brackets and figures clause (ii) or clause (iii) , the words, brackets and figures clause (ii) or clause (iii) or clause (iv) shall be substituted.