Housing deduction under Section 80GG increased, altering allowable deduction for self-employed and salaried taxpayers under income tax. The Finance Act amends the housing deduction provision by substituting the earlier specified monetary threshold with a higher fixed amount, thereby increasing the maximum deduction available under that provision; the substitution operates prospectively from the amendment's commencement date.
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Housing deduction under Section 80GG increased, altering allowable deduction for self-employed and salaried taxpayers under income tax.
The Finance Act amends the housing deduction provision by substituting the earlier specified monetary threshold with a higher fixed amount, thereby increasing the maximum deduction available under that provision; the substitution operates prospectively from the amendment's commencement date.
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