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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Income Tax Act Update: Clause (15) Revised to Raise Limit from Ten Lakh to Twenty-Five Lakh Rupees Effective April 2012.</h1> Section 2 of the Income-tax Act has been amended by the Finance Act, 2011. In clause (15), the second proviso is revised to replace 'ten lakh rupees' with 'twenty-five lakh rupees.' This change will take effect from April 1, 2012.