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of <h1>Amendment to Section 32 of Income-tax Act: Clause (ii) limit raised to Rs. 5,000; changes affect depreciation calculations.</h1> Section 32 of the Income-tax Act is amended effective from April 1, 1984. In sub-section (1), clause (ii) replaces 'seven hundred and fifty rupees' with 'five thousand rupees.' In clauses (iv) and (v), the phrases indicating that certain sums are not deductible in determining the written down value for clause (ii) are omitted. These changes affect the calculation of depreciation and deductions under the Income-tax Act.
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