Amendment to Section 80L removes two provisos, altering the statutory deduction framework under the Income-tax Act. The amendment deletes the first and second provisos to subsection (1) of the provision formerly identified as section 80L, removing those conditional exceptions to the statutory deduction framework and making that deletion operative from the commencement of the fiscal year beginning 1 April 1993.
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Amendment to Section 80L removes two provisos, altering the statutory deduction framework under the Income-tax Act.
The amendment deletes the first and second provisos to subsection (1) of the provision formerly identified as section 80L, removing those conditional exceptions to the statutory deduction framework and making that deletion operative from the commencement of the fiscal year beginning 1 April 1993.
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