Section 12 - Amendment of section 24 - Finance Act, 2000

12. Amendment of section 24 In section 24 of the Income-tax Act, in sub-section (2), in the second proviso, with effect from the 1st day of April, 2001,- (i) for the figures, letters and words 1st day of April, 2001 , the figures, letters and words 1st day of April, 2003 shall be substituted; (ii) for the words seventy-five thousand rupees , the words one lakh rupees shall be substituted.