Finance Act, 1985
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Amendment of section 142A (allowance for rent paid by certain tenants) of Income Tax Act, 1967. |
7.—Section 142A (inserted by the Finance Act, 1982 ) of the Income Tax Act, 1967 , is hereby amended in subsection (2), as respects the year 1985-86 and subsequent years of assessment— | |
(a) by the substitution in paragraph (a) (i) of “fifty-five years” for “sixty years” (inserted by the Finance Act, 1984 ), and | ||
(b) by the substitution in paragraph (b) of “£1,500” for “£1,000” and of “£750” for “£500”, | ||
and the said paragraphs (a) (i) and (b), as so amended, are set out in the Table to this section. | ||
TABLE | ||
(i) at any time during the year of assessment he was of the age of fifty-five years or upwards, and | ||
(b) In this subsection “the relevant limit” means— | ||
(i) in the case of a claimant who is entitled to a deduction under section 138(a), £1,500, and | ||
(ii) in any other case, £750. |