Section 35CCD deduction multiplier reduced to a sum equal to qualifying expenditure for future assessment years. The amendment inserts a proviso into section 35CCD(1) effective for assessment years beginning on or after 1 April 2021, substituting the phrase 'an amount equal to one and one-half times of' with 'a sum equal to', thus replacing the multiplicative enhancement with a direct sum equal to qualifying expenditure.
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Provisions expressly mentioned in the judgment/order text.
Section 35CCD deduction multiplier reduced to a sum equal to qualifying expenditure for future assessment years.
The amendment inserts a proviso into section 35CCD(1) effective for assessment years beginning on or after 1 April 2021, substituting the phrase "an amount equal to one and one-half times of" with "a sum equal to", thus replacing the multiplicative enhancement with a direct sum equal to qualifying expenditure.
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