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of <h1>Income Tax Act Update: Section 80G Amendment Lowers Tax Deduction Limit for Monetary Contributions to 2,000 Effective April 2018.</h1> Section 80G of the Income-tax Act is amended by the Finance Act, 2017. In sub-section (5D), the limit for monetary contributions eligible for tax deductions is reduced from 'ten thousand rupees' to 'two thousand rupees.' This change takes effect from April 1, 2018.
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