# The Finance Act, 1986, Section 6: Amendment of section 24

- Act: The Finance Act, 1986 (Act 23 of 1986)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1986/section/6/

## Text

Amendment of section 24 6. In section 24 of the Income-tax Act, for sub-section (2), the following sub-sections shall be substituted with effect from the 1st day of April, 1987, namely:— (2) No deduction shall be allowed under sub-section (1) in respect of property of the nature referred to in sub-clause (i) of clause (a) of sub-section (2), or sub-section (3), of section 23. Provided that nothing in this sub-section shall apply to the allowance of a deduction under clause (vi) of sub-section (1). of an amount not exceeding five thousand rupees in respect of the property of the nature referred to in sub-clause (i) of clause (a) of subsection (2) of section 23. (3) The total amount deductible under sub-section (1) in respect of property of the nature referred to in sub-clause (ii) of clause (a) of sub-section (2) of section 23 shall not exceed the annual value of the property as determined under that section." [Finance Act, 1986] © Copyright. Taxmann Publications Pvt. Ltd.

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