The Finance (Amendment) Act, 1987

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....ty-eighth Year of the Republic of India as follows :- 1 SHORT TITLE AND COMMENCEMENT. (1) This Act may be called the Finance (Amendment) Act, 1987. (2) Sub-clause (ii) of clause (b) of section 3 and clause (c) of section 4 shall be deemed to have come into force on the 19th day of September, 1987, and the remaining provisions of this Act shall come into force at once. 2 AMENDMENT OF SECTION 2.....

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....the Union calculated at the rate of five per cent. of such "advance tax".' 3 AMENDMENT OF THE FIRST SCHEDULE. In the First Schedule to the principal Act, - (a) in Part II, the following shall be added at the end, namely :- "Surcharge on income-tax The amount of income-tax computed in accordance with the provisions of sub-item (a) of item 1 and sub-item (a) of item 2 of thi....

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....ive per cent. of such income-tax : Provided that no such surcharge shall be payable by a non-resident.". 4 PAYMENT OF SURCHARGE. Notwithstanding anything contained in the Income-tax Act, 1961 (43 of 1961), - (a) the surcharge payable under sub-section (4A) of section 2 of, and Part II of the First Schedule to, the principal Act, as amended by this Act, shall be deductible only in respec....