Deduction under section 88 barred for individuals and Hindu undivided families for future assessment years. The Finance Act, 2005 inserts sub section (9) into section 88 of the Income tax Act, providing that no deduction under section 88 shall be allowed to an assessee who is an individual or a Hindu undivided family for the assessment year beginning on the 1st day of April, 2006 and for subsequent years.