Amendment of section 57
In section 57 of the Income-tax Act,—
| (a) | in clause (i), after the words “in the case of dividends,”, the words, brackets, letter and figures “other than that referred in sub-clause (f) of clause (22) of section 2″ shall be inserted with effect from the 1st day of October, 2024; | |
| (b) | in clause (iia), before the Explanation, the following proviso shall be inserted with effect from the 1st day of April, 2025, namely:— | |
| ‘Provided that in a case where income-tax is computed under clause (ii) of sub-section (1A) of section 115BAC, the provisions of this clause shall have effect as if for the words “fifteen thousand rupees”, the words “twenty-five thousand rupees” had been substituted;’. | ||
| (c) | after the proviso, the following proviso shall be inserted with effect from the 1st day of October, 2024, namely:— | |
| “Provided further that no deduction shall be allowed in case of dividend income of the nature referred to in sub-clause (f) of clause (22) of section 2.”. |