Salary deduction limit revised to a capped percentage-or-fixed-amount for computing taxable income under the amendment. The amendment substitutes the existing portion of clause (i) of section 16 with the provision that 'a sum equal to thirty-three and one-third per cent. of the salary or twelve thousand rupees, whichever is less,' with effect from the 1st day of April, 1989, thereby capping the deductible amount by reference to salary or a fixed monetary ceiling.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Salary deduction limit revised to a capped percentage-or-fixed-amount for computing taxable income under the amendment.
The amendment substitutes the existing portion of clause (i) of section 16 with the provision that "a sum equal to thirty-three and one-third per cent. of the salary or twelve thousand rupees, whichever is less," with effect from the 1st day of April, 1989, thereby capping the deductible amount by reference to salary or a fixed monetary ceiling.
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