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of <h1>Finance Act 2024 amends Section 57: New rules on dividend income deductions and increased limits under Section 115BAC.</h1> Section 57 of the Income-tax Act is amended by the Finance (No. 2) Act, 2024. Effective October 1, 2024, clause (i) excludes certain dividend income as referred in sub-clause (f) of clause (22) of section 2. Clause (iia) is modified to increase the deduction limit from fifteen thousand to twenty-five thousand rupees for income-tax computed under section 115BAC, effective April 1, 2025. Additionally, effective October 1, 2024, no deduction is allowed for dividend income of the nature specified in sub-clause (f) of clause (22) of section 2.
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