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TMI BlogAmendment of act 27 of 1957X X X X Extracts X X X X X X X X Extracts X X X X ..... e words two hundred thousand rupees shall be substituted; (2) after clause (xxv), the following clause shall be inserted, namely :- (xxva) any deposits under such National Deposit Scheme as may be framed by the Central Government and notified by it in this behalf in the Official Gazette; ; (3) after clause (xxvii), the following clause shall be inserted, namely :- (xxviia) any deposits with the In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the net wealth of the assessee, so much of the value of such assets as has not been excluded from the net wealth of the assessee under this sub-section; so, however, that the value of the assets excluded under this proviso shall not exceed thirty-five thousand rupees : Provided also that where the value of any assets, being deposits referred to in clause (xxva), has not been excluded from the net ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m voluntary contributions referred to in sub-clause (iia) of clause (24) of section 2 of the Income-tax Act] is used or applied, directly or indirectly, for the benefit of any person referred to in sub-section (3) of section 13 of the Income-tax Act, or (ii) any part of the income of the trust [whether derived from such property or from voluntary contributions referred to in sub-clause (iia) of cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and at the maximum marginal rate : ; (2) after the second proviso, the following proviso shall be inserted, namely :- Provided also that, - (a) in the case of any association referred to in clause (21) of section 10 of the Income-tax Act, (i) the provisions of clause (i) and clause (ii) shall not apply; and (ii) the other provisions of this section shall apply with the modifications that, - (1) fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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