(Last Updated On: April 20, 2018)

Section 127 of Finance Act 2018

[Section 127 of Finance Act 2018 deals with Amendment of section 12 and is covered in CHAPTER VIII MISCELLANEOUS]

Amendment of section 12

127. In section 12 of the principal Act,—

(i)		for the word “Bank”, the words “Government Savings Bank” shall be substituted;
(ii)		for the words “any proper person”, the word “guardian” shall be substituted;
(iii)		for the words “such person”, the words “such guardian” shall be substituted;
(iv)		for the words “nothing in this section authorises payments to any person other than”, the words “payments shall be made to” shall be substituted.

Section 127 of Finance Act 2018 : Amendment of section 12