Amendment to Section 80T reduces prescribed percentage rates for sub-clauses, altering allowable deductions from the assessment year.

Amendment of deduction rates under Section 80T reduces the prescribed percentage thresholds in clause (b) with prospective effect by substituting a lower percentage in sub-clause (i) and reducing the percentage in sub-clause (ii) and the proviso, thereby lowering the rates that determine the allowable deduction under the clause.

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