Clause 10 - Amendment of section 16. - Finance (No. 2) Bill, 2024

Amendment of section 16. 10. In section 16 of the Income-tax Act, in clause (ia), the following proviso shall be inserted with effect from the 1st day of April, 2025, namely: Provided that in a case where income-tax is computed under clause (ii) of sub-section (1A) of section 115BAC, the provisions of this clause shall have effect as if for the words fifty thousand rupees , the words seventy-five thousand rupees had been substituted; .