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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Monetary limit in Section 80L of the Income-tax Act reduced from twelve thousand to nine thousand from April 1, 2002.</h1> Section 80L of the Income-tax Act has been amended by the Finance Act, 2001. Effective from April 1, 2002, in sub-section (1), clause (x), the monetary limit mentioned as 'twelve thousand' is replaced with 'nine thousand' at both instances where it appears. This amendment impacts the allowable deduction under the specified section.
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