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of <h1>Income-tax Act Section 115JC Amended: New Clause on Deductions and Depreciation Added, Effective April 1, 2015.</h1> Section 115JC of the Income-tax Act has been amended, effective April 1, 2015. The amendment involves changes to sub-section (2): the word 'and' is removed from clause (i); clause (ii) now reads 'under section 10AA; and'; and a new clause (iii) is added. Clause (iii) addresses deductions claimed under section 35AD, which are to be reduced by the depreciation amount allowable under section 32, as if no deduction under section 35AD was claimed for the assets involved.
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