Finance Act, 1976

Amendment of section 525 (tax to be charged on consideration for certain restrictive covenants, etc.) of Income Tax Act, 1967.

8.Section 525 (1) of the Income Tax Act, 1967 , is hereby amended by the substitution for “as received by him after deduction of tax” of “as if it were a sum received by him after deduction of tax at the standard rate”.