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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Amendment to Section 80C of Income-tax Act: Removal of Sub-section (7) Following Section 88's Earlier Repeal. Effective April 2023.</h1> Clause 36 of the Finance Bill, 2023 proposes an amendment to section 80C of the Income-tax Act, which addresses deductions for life insurance premiums, deferred annuities, provident fund contributions, and subscriptions to certain equity shares or debentures. The amendment involves the omission of sub-section (7) due to the previous removal of section 88. This change is scheduled to take effect from April 1, 2023.