Clause 14 - Amendment of section 40. - Finance (No. 2) Bill, 2024

Amendment of section 40. 14. In section 40 of the Income-tax Act, in clause (b), in sub-clause (v), in item (a), with effect from the 1st day of April, 2025, (a) for the letters and figures Rs. 3,00,000 , the letters and figures Rs. 6,00,000 shall be substituted; (b) for the letters and figures Rs. 1,50,000 , the letters and figures Rs. 3,00,000 shall be substituted.