Section 40 - Amendment of section 80L - Finance Act, 2000

40. Amendment of section 80L In section 80L of the Income-tax Act, in sub-section(1),- (a) in clause (vii),- (i) after the words industrial development in India: , the words, brackets and figures and which is eligible for deduction under clause (viii) of sub-section (1) of section 36; shall be inserted; (ii) the proviso shall be omitted; (b) in clause (x), for the words for residential purposes: , the words, brackets and figures for residential purposes and which is eligible for deduction under clause (viii) of sub-section (1) of section 36, shall be substituted.