Clause 43 - Amendment of section 87A. - Finance Bill, 2023

Amendment of section 87A. 43. In section 87A of the Income-tax Act, the following proviso shall be inserted with effect from the 1st day of April, 2024, namely: Provided that where the income-tax payable on the total income of the assessee is computed under sub-section (1A) of section 115BAC, this section shall have the effect as if, (a) for the words five hundred thousand rupees , the words seven hundred thousand rupees ; (b) for the words twelve thousand and five hundred rupees , the words twenty-five thousand rupees had been substituted. .