Amendment of Tenth Schedule

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rovided further that the amount of ten thousand rupees, specified in column (2) of the said Table against sub-section (2) of section 48, shall be increased during the transitional previous year only where the long-term capital gain arises as a result of two or more transfers of long-term capital assets and at least one of the said transfers is made during the initial period of twelve months comprised within the transitional previous year and the remaining transfer or transfers is or are made during the period beyond the said period of twelve months comprised within the transitional previous year: Provided also that where more than one period in respect of different sources of income are included in the transitional previous year un....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....000 Section 48(2) . . . . . 10,000 Section 80C(1) . . . . . 6,000, 9,000 and 12,000 Section 80C(3) . . . . . . 1/10th of the actual capital sum assured Section 80C(4) . . . . . . 60,000 and 40,000 Section 80C(7)(c) . . . . . 10,000 Section 80CC(2) . . . . . 20,000 Section 80CCA(1) . . . . . 30,000 Section 80D(1) . . . . . 3,000 Section 80L(1) . . . . . 7,000 (occurring in two places) Section 80L(1), 1st proviso . . . . . 3,000 Section 80L(1), 2nd proviso . . . . . 3,000 Section 80P(2)(c) . . . . . 40,000 and 20,000 Section 80P(2)(f) . . . . . 20,000 Section 80U . . . . . 15,000 Section 139A(2) . . . . . 50,000"; (iii) for rules 4 and 5, the fo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... proviso to sub-section (2) of section 3, the allowance in respect of depreciation on block of assets shall be calculated separately for each such period included in the transitional previous year in the manner stated in clause (ii) of sub-section (1) of section 32 and increased, where necessary, by multiplying it by a fraction of which the numerator is the number of months in such period (after excluding the number of months relatable to the period in relation to which depreciation on block of assets has been allowed or is allowable in the previous year relevant to the assessment year commencing on the 1st day of April, 1988) and the denominator is twelve.'; (iv) in rule 6, the following proviso shall be inserted at the end, n....