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of <h1>Finance Act 1965 amends Income Tax Act's Section 87: New limits on contributions and changes to super tax deductions.</h1> Section 87 of the Income Tax Act is amended by the Finance Act, 1965. Clause (d) of subsection (1) changes the rule regarding contributions, limiting them to one-fifth of the salary or eight thousand rupees, whichever is less. Subsection (4) removes references to super tax deductible under section 99A. A new subsection (5) is added, specifying that the section does not apply to assessment years starting April 1, 1966, for those with salary income subject to tax deduction at source under section 192, or from April 1, 1965, for other assessees.
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