Amendment of section 88

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..... ent fees or donation or payment of similar nature) , whether at the time of admission or thereafter,- (a) to any university, college, school or other educational institution situated within India; (b) for the purpose of full-time education of any of the persons specified in sub-section (4) ;"; (ii) in clause (xvi) , for the Explanation, the following Explanation shall be substituted, namely :- 'Ex .....

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..... han a contract for a deferred annuity as is not in excess of twenty per cent of the actual capital sum assured. Explanation-In calculating any such actual capital sum, no account shall be taken- (i) of the value of any premiums agreed to be returned, or (ii) of any benefit by way of bonus or otherwise over and above the sum actually assured, which is to be or may be received under the policy by an .....

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