Section 80C deduction rules: early insurance surrender triggers disallowance and income recapture, and eligible government securities permitted. Amendment replaces section 80C's deduction formula with a graduated deduction based on the aggregate of specified sums; adds subscription to specified Central Government securities as an eligible deduction item for certain taxpayers; increases the related monetary ceiling in ancillary clauses; and provides that if an assessee terminates a life insurance contract before premiums have been paid for two years, premiums paid in the year of termination are disallowed and earlier deductions attributable to those premiums are deemed income, with explanations defining the deductible amount and ULIP interaction.