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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income-tax Act Section 16 Amended: Deduction Now 30% of Salary or Rs. 10,000, Whichever is Less, Effective April 1987.</h1> Section 16 of the Income-tax Act has been amended by the Finance Act, 1986. Effective from April 1, 1987, the amendment modifies clause (i) to stipulate that the deduction shall be 'a sum equal to thirty percent of the salary or ten thousand rupees, whichever is less.' This change impacts the calculation of allowable deductions under the specified section of the Income-tax Act.
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