Amendment of section 88

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....s any development fees or donation or payment of similar nature) , whether at the time of admission or thereafter,- (a) to any university, college, school or other educational institution situated within India; (b) for the purpose of full-time education of any of the persons specified in sub-section (4) ;"; (ii) in clause (xvi) , for the Explanation, the following Explanation shall be sub....

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....yment made on an insurance policy other than a contract for a deferred annuity as is not in excess of twenty per cent of the actual capital sum assured. Explanation-In calculating any such actual capital sum, no account shall be taken- (i) of the value of any premiums agreed to be returned, or (ii) of any benefit by way of bonus or otherwise over and above the sum actually assured, which ....