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of <h1>Income Tax Deduction Limit Increased to Rs. 40,000 u/s 80CCA; New Rules for Family Partition Cases Introduced.</h1> Section 80CCA of the Income-tax Act was amended by the Finance Act, 1990, effective from April 1, 1991. The amendment increased the deduction limit under sub-section (1) from twenty thousand rupees to thirty thousand rupees for the assessment years starting April 1, 1989, and April 1, 1990. For the assessment year commencing April 1, 1991, and subsequent years, the limit was further increased to forty thousand rupees. Additionally, a new sub-section (3) was introduced, addressing the treatment of income in cases of partition within a Hindu undivided family or dissolution of an association of persons after a deduction has been allowed.
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