Rebate to be allowed in computing income-tax

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.... in any case, exceed the amount of income-tax (as computed before allowing the deductions under this Chapter) on the total income of the assessee with which he is chargeable for any assessment year.]     *************** NOTES:- 1. Substituted vide Section 30 of the Finance Act, 1990 w.e.f. 01-04-1991 before it was read as, "RELIEF IN RESPECT OF INCOME-TAX" Earlier, Substituted vide Third Schedule of the Finance (No. 2) Act, 1967 w.e.f. 01-04-1968 before it was read as, "REBATES AND RELIEFS" 2. Inserted vide Section 30 of the Finance Act, 1990 w.e.f. 01-04-1991 Earlier, Omitted vide Third Schedule of the Finance (No. 2) Act, 1967 w.e.f. 01-04-1968 before it was read a....

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....erred annuity or making provision for his wife or children, in so far as the sum so deducted does not exceed one-fifth of the salary; (d) if the assessee is an employee participating in a recognised provident fund, his own contributions to his individual account in the fund in the previous year, in so far as the aggregate of such contributions does not exceed one-fifth of his salary in that previous year or eight thousand rupees, whichever is less; (e) if the assessee is an employee participating in an approved superannuation fund, any sum paid in the previous year by him by way of contribution towards the superannuation fund; (f) where the assessee is an individual, any sums deposited, in the previous year by the....

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....ive per cent of the total income or ten thousand rupees whichever is less; (iii) in the case of a Hindu undivided family, twenty-five per cent of its total income or twenty thousand rupees whichever is less. (4) The amount of income-tax deductible under this section shall not in any case exceed half the aggregate of the sums in respect of which the deduction is allowed under this section. (5) This section shall not apply in respect of- (i) the assessment year commencing on the 1st day of April, 1966 and any subsequent assessment year, in the case of an assessee whose total income includes any income chargeable under the head "Salaries" from which tax is deducted, or deductible, at source in accordance wit....