TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Act 1990 Updates Income-Tax Act: New Rebates for Life Insurance, Provident Fund, and Investments, Effective April 1991.</h1> The Finance Act, 1990, amends Chapter VIII of the Income-tax Act, effective April 1, 1991, renaming it 'Rebates and Reliefs.' New sections 87 and 88 introduce rebates for income-tax computation, allowing deductions for life insurance premiums, provident fund contributions, and other specified investments, capped at 20% of the sums paid. Section 88A provides rebates for investments in certain new shares or units, with conditions on eligible issues of capital. Deductions are subject to limits and specific conditions, including a maximum deduction of Rs. 14,000 for certain individuals and Rs. 10,000 for others. Provisions also address the consequences of early termination or transfer of investments.
TaxTMI 
TaxTMI 
