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of <h1>Tax deduction rules for life insurance, pensions, donations, investments and housing payments omitted effective 1 April 2023</h1> Section provides for a rebate/deduction from income-tax for specified taxpayers for amounts paid or deposited for life insurance, provident/pension funds, certain government savings, donations to approved charitable funds/institutions (including specified renovation of notified historic or public worship places), subscriptions to approved capital issues or mutual funds, and payments for purchase/construction of residential property, subject to defined eligible persons, documentation and institutional conditions. It sets minimum and maximum thresholds, caps on aggregate deductions, anti-abuse recapture on premature termination or transfers, and qualification criteria for beneficiary institutions. The provision was omitted with effect from 1 April 2023.
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