Para 2 - Definitions - Investment Deposit Account Scheme, 1986

Definitions. 2. (1) In this Scheme, unless the context otherwise requires,— (a) "account" means a deposit account under this Scheme; (b) "deposit office" means any office of the Development Bank where the account is maintained; (c) "depositor" means an assessee who is eligible to make a deposit under section 32AB of the Income-tax Act; (d) "designated account" means an account of the depositor exclusively for the purposes of the Scheme opened with a sched uled bank; (e) "Income-tax Act" means the Income-tax Act, 1961 (43 of 1961); (f) "paragraph" means a paragraph of this Scheme and "sub-paragraph" means a sub-paragraph of the paragraph in which it occurs; (g) "scheduled bank" means the State Bank of India consti tuted under the State Bank of India Act, 1955 (23 of 1955), a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), a corresponding new bank consti tuted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or under section 3 of the Banking Companies (Acquisition and Transfer of Undertak ings) Act, 1980 (40 of 1980), or any other bank being a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934). (2) All references to "Forms" in this Scheme shall be construed as references to the forms set out in the Appendix to this Scheme.