Amendment of section 87A.

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..... s "twenty-five thousand rupees", the words "sixty thousand rupees" shall be substituted; (ii) in clause (b), for the words "seven hundred thousand rupees" at both the places where they occur, the words "twelve hundred thousand rupees" shall be substituted; (b) after the proviso, the following proviso shall be inserted, namely:-- "Provided further that the deduction under the first proviso, sh .....

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..... ncome of the assessee is chargeable to tax under sub-section (1A) of section 115BAC, and the total income-- (a) does not exceed seven hundred thousand rupees, the assessee shall be entitled to a deduction from the amount of income-tax (as computed before allowing for the deductions under this Chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to o .....

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..... ith sixty thousand rupees respectively. It is further proposed to insert a second proviso to the said section to provide that the deduction under the first proviso, shall not exceed the amount of income-tax payable as per the rates provided in sub-section (1A) of section 115BAC. These amendments will take effect from 1st April, 2026 and will, accordingly, apply in relation to the assessment year .....

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