Deduction limits under section 88 restructured to tiered rates and clarified payment and cap rules for individuals and HUFs. Amendment restructures section 88 to grant individuals and Hindu undivided families tiered percentage deductions of Chapter VI-A contributions based on gross total income bands, creates an enhanced percentage for salaried persons meeting a salary ceiling and salary-share condition, omits the prior 'income chargeable to tax' qualifier, allows deductions only for sums paid or deposited during the previous year up to the assessee's total income chargeable to tax, and substitutes aggregate caps with specified overall and subgroup limits while omitting two prior subsections.
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Provisions expressly mentioned in the judgment/order text.
Deduction limits under section 88 restructured to tiered rates and clarified payment and cap rules for individuals and HUFs.
Amendment restructures section 88 to grant individuals and Hindu undivided families tiered percentage deductions of Chapter VI-A contributions based on gross total income bands, creates an enhanced percentage for salaried persons meeting a salary ceiling and salary-share condition, omits the prior "income chargeable to tax" qualifier, allows deductions only for sums paid or deposited during the previous year up to the assessee's total income chargeable to tax, and substitutes aggregate caps with specified overall and subgroup limits while omitting two prior subsections.
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