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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Tax Deduction Threshold for Interest Raised to 5000; Residential Properties Now Qualify for Deductions Under Section 36(1)(viii)</h1> Section 194A of the Income-tax Act is amended by the Finance Act, 2000. In sub-section (3), clause (i), the threshold for tax deduction at source on interest is increased from two thousand five hundred rupees to five thousand rupees, effective from June 1, 2000. Additionally, in the proviso, clause (c) is revised to include properties used for residential purposes that qualify for deductions under clause (viii) of sub-section (1) of section 36.