Foreign Exchange Conservation (Travel) Tax Abolition Act, 1992
1. Short title and commencement.
2. Omission of Chapter V of Finance Act, 1987.
3. Repeal and saving.
An Act further to amend the Finance Act, 1987.
BE it enacted by Parliament in the Forty-third Year of the Republic of India as follows:-
- Short title and commencement.(1) This Act may be called the Foreign Exchange Conservation (Travel) Tax Abolition Act, 1992.
(2) It shall be deemed to have come into force on the 1st day of June, 1992.
- Omission of Chapter V of Finance Act, 1987.Chapter V of the Finance Act, 1987 (11 of 1987.) (hereinafter referred to as the principal Act), relating to the Foreign Exchange Conservation (Travel) Tax, shall be omitted.
- Repeal and saving.(1) The Foreign Exchange Conservation (Travel) Tax Abolition Ordinance, 1992 (Ord. 8 of 1992.) is hereby repealed.
(2) Notwithstanding such repeal, anything done or any action taken under the principal Act, as amended by the said Ordinance, shall be deemed to have been done or taken under the principal Act, as amended by this Act.
