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<h1>Income-tax Act Update: No Deductions for Certain Expenditures After March 31, 2000, Under Section 35(2AB)(5) Amendment.</h1> Section 35 of the Income-tax Act has been amended by the Finance (No. 2) Act, 1998. A new clause (5) is added to sub-section (2AB), stating that no deduction will be permitted for expenditures mentioned in clause (1) if incurred after March 31, 2000.