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of <h1>New Clause in Finance Act 1991: Limits Deductions on Income u/s 115A, Effective From April 1989.</h1> In the Finance (No. 2) Act, 1991, an amendment was made to section 44D of the Income-tax Act. A new clause (d) was inserted, effective retroactively from April 1, 1989. This clause specifies that no deduction for any expenditure or allowance will be permitted under the specified sections when calculating the income mentioned in clause (ab) of sub-section (1) of section 115A.
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