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of <h1>Fixed Tax Amounts in Section 17(2) to be Replaced with 'Such Amount as May be Prescribed' from April 2026</h1> The Finance Act, 2025 amends section 17(2) of the Income-tax Act, effective from April 1, 2026. In sub-clause (iii), paragraph (c), the fixed amount of 'fifty thousand rupees' will be replaced with 'such amount as may be prescribed.' Similarly, in the proviso after sub-clause (viii), clause (vi), long line, clause (B), the specific sum of 'two lakh rupees' will be substituted with 'such amount as may be prescribed.' This amendment shifts from fixed statutory amounts to amounts that can be determined through prescribed rules.
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