Clause 141 - Amendment of section 8A - Finance Bill, 2018

141. Amendment of section 8A. In the principal Act, in section 8A, in sub-section (1), (a) for the words twenty thousand rupees , the words twenty-five thousand rupees shall be substituted; (b) in the proviso, for the words fifteen hundred rupees , the words two thousand rupees shall be substituted; (c) after the proviso, the following sub-section shall be inserted, namely: (1A) The pension and additional pension to every person shall be increased after every five years commencing from 1st April, 2023 on the basis of Cost Inflation Index provided under clause (v) of Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961). .