(3)[ Notwithstanding anything contained in any other provision of this Act, where a partition has taken place among the members of a Hindu undivided family or where an association of persons has been dissolved after a deduction has been allowed under sub-section (1), the provisions of sub-section (2) shall apply as if the person in receipt of income referred to therein is the assessee.] [ Inserted by Act 12 of 1990, Section 16 (w.e.f. 1.4.1991).][Explanation I.-For the removal of doubts, it is hereby declared that interest on the deposits made ] [Substituted by Act 26 of 1988, Section 23, for Section 80-CCA (w.e.f. 1.4.1988).][under the scheme referred to in clause (i) of sub-section (1)] [ Substituted by Act 49 of 1991, Section 25, for " under the National Savings Scheme" (w.e.f. 1.10.1991).][shall not be chargeable to tax except in the manner and to the extent specified in sub-section (2).Explanation II.-For the purposes of this section, "Life Insurance Corporation" shall have the same meaning as in clause (a) of sub-section (8) of section 80-C.] [Substituted by Act 26 of 1988, Section 23, for Section 80-CCA (w.e.f. 1.4.1988).]
