# The Finance Act, 2016, Section 14: Amendment of section 32AC

- Act: The Finance Act, 2016
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2016/section/14/

## Text

Amendment of section 32AC. 14. In section 32AC of the Income-tax Act, in sub-section (1A),— (i) | for the words "acquired and installed during any previous year exceeds twenty-five crore rupees", the words, figures and letters "acquired during any previous year exceeds twenty-five crore rupees and such assets are installed on or before the 31st day of March, 2017" shall be substituted; (ii) | before the proviso, the following proviso shall be inserted, namely:— "Provided that where the installation of the new assets are in a year other than the year of acquisition, the deduction under this sub-section shall be allowed in the year in which the new assets are installed."; (iii) | in the existing proviso, for the words "Provided that", the words "Provided further that" shall be substituted.

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