{"act":{"id":"finance-act-2025","short_title":"The Finance Act, 2025","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2025-2026.","act_number":"7","act_year":2025,"enact_date":"2025-08-16","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":153,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2025/"},"unit":"section","section":{"number":"20","heading":"Amendment of section 87A","text":"Amendment of section 87A. 20. In section 87A of the Income-tax Act, with effect from the 1st April, 2026,— (a) | in the proviso,— (i) | in clause (a),— (I) | for the words \"seven hundred thousand rupees\", the words \"twelve hundred thousand rupees\" shall be substituted; (II) | for the words \"twenty-five thousand rupees\", the words \"sixty thousand rupees\" shall be substituted; (ii) | in clause (b), for the words \"seven hundred thousand rupees\" at 1[all] the places where they occur, the words \"twelve hundred thousand rupees\" shall be substituted; (b) | after the proviso, the following proviso shall be inserted, namely:— \"Provided further that the deduction under the first proviso, shall not exceed the amount of income-tax payable as per the rates provided in sub-section (1A) of section 115BAC.\". 1. Substituted for \"both\" by the Finance Act, 2026, w.r.e.f. 1-4-2025.","html":"<p><b>Amendment of section 87A.</b></p><p><b>20. </b>In section 87A of the Income-tax Act, with effect from the 1st April, 2026,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in the proviso,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in clause (<i>a</i>),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>I</i>)</td><td></td><td>for the words \"seven hundred thousand rupees\", the words \"twelve hundred thousand rupees\" shall be substituted;</td></tr><tr><td>(<i>II</i>)</td><td></td><td>for the words \"twenty-five thousand rupees\", the words \"sixty thousand rupees\" shall be substituted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>ii</i>)</td><td></td><td>in clause (<i>b</i>), for the words \"seven hundred thousand rupees\" at <sup>1</sup>[<i>all</i>] the places where they occur, the words \"twelve hundred thousand rupees\" shall be substituted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>b</i>)</td><td></td><td>after the proviso, the following proviso shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"<b>Provided further</b> that the deduction under the first proviso, shall not exceed the amount of income-tax payable as per the rates provided in sub-section (1A) of section 115BAC.\".</td></tr></table></div><p>1. Substituted for \"both\" by the Finance Act, 2026, w.r.e.f. <b>1-4-2025</b>.</p>","words":142,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2025/section/20/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}