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of <h1>Income-tax Act Section 32 Amended: New Deduction for Certain Commercial Vehicles Acquired and Used Before April 1999.</h1> Section 32 of the Income-tax Act has been amended to include a new proviso in sub-section (1), clause (ii). This proviso allows for a deduction on the written down value of a commercial vehicle acquired between October 1, 1998, and April 1, 1999, and used for business or profession before April 1, 1999. 'Commercial vehicle' includes heavy and medium goods and passenger motor vehicles but excludes maxi-cabs, motor cabs, tractors, and road rollers. Definitions for these terms align with those in the Motor Vehicles Act, 1988.
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