Finance Act, 1972
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Amendment of section 135 of Income Tax Act, 1967. |
3.— Section 135 of the Income Tax Act, 1967 , is hereby amended— | |
(a) by the substitution in paragraph (d) of the proviso (inserted by the Finance Act, 1970 ) to subsection (1) of “£299” for “£249”, of “£324” for “£274”, of “£700” for “£600” (inserted by the Finance Act, 1971 ) in both places where it occurs and of “£175” for “£150” (inserted by the said Finance Act, 1971 ) in both places where it occurs, | ||
(b) by the substitution in paragraph (e) of the said proviso of “£494” for “£424”, of “£594” for “£524”, of “£1,200” for “£1,000” (inserted by the said Finance Act, 1971 ) in both places where it occurs and of “£300” for “£250” (inserted by the said Finance Act, 1971 ) in both places where it occurs, and | ||
(c) by the addition to the said proviso of the following paragraph: | ||
“(f) where the income of an individual is wholly earned income, he shall be entitled to claim under this section such a deduction as will, when added to the deduction to which he is entitled under section 134, be not less in the aggregate than the deduction to which he would have been entitled under this section if his income were wholly unearned income.”. |