Clause 5 - Amendment of section 11. - Finance (No. 2) Bill, 2024

Amendment of section 11. 5. In section 11 of the Income-tax Act, in sub-section (7), with effect from the 1st day of April, 2025, (a) for the words, brackets, figures and letters other than clause (1), clause (23C), clause (23EC), clause (46) and clause (46A) thereof , the words, brackets, figures and letters other than clause (1), clause (23C), clause (23EA), clause (23EC), clause (23ED), clause (46), clause (46A) and clause (46B) thereof shall be substituted; (b) in the first proviso, (i) for the portion beginning with the words is notified under and ending with the word, brackets and figures clause (46) , the words, brackets, figures and letters is notified under clause (23EA) or clause (23EC) or clause (23ED) or clause (46) shall be substituted; (ii) after the words whichever is later , the words, figures, letters and brackets , or, the 1st day of April of the previous year relevant to the assessment year for which the exemption is claimed under clause (46B) of the said section shall be inserted; (c) in the second proviso, (i) after the words notification under , the words, brackets, figures and letters clause (23EA) or shall be inserted; (ii) after the words, brackets, figures and letters clause (23EC) or , the words, brackets, figures and letters clause (23ED) or shall be inserted.