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of <h1>Amendment to Income-tax Act: Section 32AC now requires assets over 25 crore installed by March 31, 2017, for deductions.</h1> Section 32AC of the Income-tax Act was amended by the Finance Act, 2016. The amendment modifies sub-section (1A) to specify that assets acquired during any previous year must exceed twenty-five crore rupees and be installed by March 31, 2017. A new proviso was added stating that if asset installation occurs in a year different from acquisition, the deduction will be allowed in the installation year. Additionally, the existing proviso was adjusted by changing the introductory wording to 'Provided further that.'
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