Amendment of section 80C

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....see, there shall be deducted, in accordance with and subject to the provisions of this section, an amount calculated, with reference to the aggregate of the sums specified in sub-section (2), at the following rates, namely :- (a) where such aggregate does not exceed Rs. 6,000 The whole of such aggregate; (b) where such aggregate exceeds Rs. 6,000 but does not exceed Rs. 12,000 Rs. 6,00....

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.... notification in the Official Gazette, specify in this behalf."; (c) in sub-section (4), in clause (ii), clause (iii) and clause (iv) for the words "thirty thousand rupees", the words "forty thousand rupees" shall be substituted; (d) after sub-section (5) and the Explanation thereto, the following sub-section and Explanations shall be inserted, namely :- "(6) If the asse....

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....fore premiums have been paid for two years, then - (i) no deduction shall be allowed to the assessee under this section in respect of the premiums, if any, paid in the previous year in which the policy is so terminated; and (ii) the deduction allowed in respect of the premiums paid in the previous year or years preceding the previous year referred to in clause (i) shall be deemed....