Deduction under section 80GG increased, raising allowable rent deduction following Finance Act amendment effective in the specified fiscal year. Amendment increases the allowable deduction under Section 80GG of the Income-tax Act by substituting the words 'two thousand rupees' with the words 'five thousand rupees', raising the specified limit applicable to the rent deduction; the substitution takes effect from the commencement of the stated fiscal year as enacted by the Finance Act, 2016.
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Provisions expressly mentioned in the judgment/order text.
Deduction under section 80GG increased, raising allowable rent deduction following Finance Act amendment effective in the specified fiscal year.
Amendment increases the allowable deduction under Section 80GG of the Income-tax Act by substituting the words "two thousand rupees" with the words "five thousand rupees", raising the specified limit applicable to the rent deduction; the substitution takes effect from the commencement of the stated fiscal year as enacted by the Finance Act, 2016.
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