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<h1>Finance Act 1977 amends Income-tax Act: New tax exemptions for children's education abroad; retroactive changes to effective dates.</h1> The Finance (No. 2) Act, 1977, amends Section 10 of the Income-tax Act. In clause (6), sub-clause (i), a new item (aa) is added, effective from April 1, 1972, allowing tax exemption for employer-provided benefits for children's full-time education abroad during vacations in India. Additionally, in clause (26A), the effective date is revised from April 1, 1975, to April 1, 1980, retroactively applying from April 1, 1975.