Income Tax Act, 1961
Sch. I Part C Rule 7. INTERPRETATION.
(1) For the purposes of these rules – (i) “investments” includes securities, stocks and shares;
(ii) 2291aa “life insurance business” means life insurance business as defined in clause (11) of section 2 of the Insurance Act, 1938 (4 of 1938);
(iii) “rule” means a rule contained in this Schedule.
(2) References in these rules to the Insurance Act, 1938 (4 of 1938), or any provision thereof, shall, in relation to the Life Insurance Corporation of India, be construed as references to that Act or provision as read with section 43 of the Life Insurance Corporation Act, 1956 (31 of 1956).
