Life Insurance Corporation Act : Deduction of income-tax not to be made on interest or dividend. Indian

Life Insurance Corporation Act,1956

Act No : 31

Section : Deduction of income-tax not to be made on interest or dividend.

2*[43A. Deduction of income-tax not to be made on interest or dividend. Notwithstanding anything contained in section 193 or section 194 of the Income-tax Act, 1961 (43 of 1961), no deduction of income- tax shall be made on any interest or dividend payable to the Corporation in respect of any securities or shares owned by it or in which it has full beneficial interest.] --------------------------------------------------------------------- 1. Ins. by Act 17 of 1957, s. 3. 2. Ins. by Act 66 of 1976, s. 41 (w.e.f. 1-6-1976). 265