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of <h1>Finance Act 1971 Expands Tax Exemptions Under Section 10 for Water, Electricity; Updates Retroactive Provisions</h1> Section 10 of the Income-tax Act has been amended by the Finance (No. 2) Act, 1971. In clause (20), the scope of income exempted from tax has been expanded to include income from the supply of water or electricity, whether within or outside the jurisdictional area, effective from April 1, 1972. In clause (26A), the exclusion of individuals in government service has been removed, and the effective date for certain provisions has been updated from April 1, 1970, to April 1, 1975, retroactively applied from April 1, 1970.
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