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of <h1>Amendment to Section 10 of Income-tax Act: Redefines 'family,' introduces retrenchment compensation exemption, and updates allowance limits.</h1> The amendment to Section 10 of the Income-tax Act includes several changes: In clause (5), the term 'family' replaces 'spouse and children' and is defined to include the individual's spouse, children, and dependent parents, siblings. Clause (10B) introduces tax exemption for compensation received by a workman upon retrenchment, not exceeding the lesser of the amount under Section 25F of the Industrial Disputes Act, 1947, or twenty thousand rupees. Clause (13A) increases the allowance limit from three hundred to four hundred rupees. An explanation is added to clause (14) regarding personal expense allowances, and clause (27) is omitted effective April 1, 1976.
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