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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, brackets, figures and letter asset referred to in clause (i) or clause (ii) or clause (iia) , the words, brackets, figures and letter or the first proviso to clause (iia) shall be inserted; (B) after the second proviso, the following proviso shall be ins .....

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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 respect of such asset: ; (b) in clause (iia),- (A) in the proviso, for the word Provided , the words Provided further shall be substituted; (B) before the proviso, the following proviso shall be inserted, namely:- Provided that where an assessee, sets .....

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