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of <h1>Income-tax Act Section 16 Amended: Deduction Now 33.33% of Salary or 20,000, Whichever is Lower, Effective 1998.</h1> Section 16 of the Income-tax Act is amended by the Finance Act, 1997, effective April 1, 1998. The amendment replaces clauses (i) and (ia) with a provision allowing a deduction of either thirty-three and one-third percent of the salary or twenty thousand rupees, whichever is lower. It clarifies that if an assessee receives salary from multiple employers, the deduction is based on the total salary received and cannot exceed the specified amount.
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