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of <h1>Amendment to Section 80CCE: Deduction Limit Increased to 1.5 Lakh for Income Tax from April 2015 Onwards.</h1> Clause 29 of the Finance (No. 2) Bill, 2014 proposes an amendment to section 80CCE of the Income-tax Act. The amendment seeks to increase the maximum allowable deduction limit under sections 80C, 80CCC, and 80CCD from one lakh rupees to one hundred and fifty thousand rupees. This change is set to take effect from April 1, 2015, and will apply to the assessment year 2015-16 and subsequent years, allowing taxpayers to claim higher deductions on their taxable income.
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