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<h1>Finance Act 2002: Amendments to Income-tax Act Section 2, New Sub-clause (xii) Added, Effective April 1, 2003.</h1> In the Finance Act, 2002, amendments to Section 2 of the Income-tax Act are outlined. A new sub-clause (xii) is added to clause (24) to include sums referred to in clause (vii) of section 28, effective April 1, 2003. An explanation is added to clause (31), defining an association of persons, a body of individuals, a local authority, or an artificial juridical person as a person for tax purposes, regardless of their income-generating intent. Additionally, in clause (37A), sub-clause (i), references to section 115BB and section 115E are updated to include section 115BBB, effective April 1, 2003.