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of <h1>Finance Bill 2024: Amendments to Section 57 Exclude Certain Dividends from Deductions; Family Pension Deduction Increased.</h1> Clause 24 of the Finance (No. 2) Bill, 2024, proposes amendments to section 57 of the Income-tax Act. Effective from October 1, 2024, it excludes dividends referred to in sub-clause (f) of clause (22) of section 2 from deductions under clause (i). Additionally, no deduction is allowed for such dividend income. From April 1, 2025, for income-tax computed under section 115BAC(1A)(ii), the deduction for family pension under clause (iia) changes from fifteen thousand to twenty-five thousand rupees. This applies from the assessment year 2025-2026 onwards.
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