Section 14 – Finance Acts

Amendment of section 40

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.