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of <h1>Income-tax Act Amended: New Deduction Limits for Certain Properties Effective April 1987 u/s 24.</h1> In the Finance Act, 1986, section 24 of the Income-tax Act is amended to replace sub-section (2) with new provisions effective April 1, 1987. The amendment specifies that no deduction under sub-section (1) shall be allowed for certain properties, except for a deduction up to five thousand rupees for specific property types under clause (vi) of sub-section (1). Additionally, the total deductible amount for certain properties under sub-section (1) cannot exceed the property's annual value as determined by section 23.
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