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<h1>Income Tax Act Amendment: Section 24 Now Allows Higher Deduction Limit for Properties Financed and Completed by April 2001.</h1> In the Finance Act, 1999, an amendment to section 24 of the Income-tax Act was introduced, effective from April 1, 2000. This amendment involves sub-section (2), where a new proviso is added. It specifies that for properties acquired or constructed with capital borrowed on or after April 1, 1999, and completed before April 1, 2001, the limit mentioned in the first proviso is increased from thirty thousand rupees to seventy-five thousand rupees.