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Amendment of section 32

Section 10 - Act - DIRECT TAXES - Income-tax - Finance Act - Section 10 - 10. In section 32 of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 2016,- (a) in clause (ii),- (A) in the second proviso, after the words, brac .....

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erted, namely:- Provided also that where an asset referred to in clause (iia) or the first proviso to clause (iia), as the case may be, is acquired by the assessee during the previous year and is put to use for the purposes of business for a period o .....

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r that previous year, then, the deduction for the balance fifty per cent. of the amount calculated at the percentage prescribed for such asset under clause (iia) shall be allowed under this sub-section in the immediately succeeding previous year in r .....

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