Fine. Then how would you read the below mentioned date of 1st April 2013;
Amendment of
section 80C.
10. In section 80C of the Income-tax Act, in sub-section (3A), before the Explanation, the following
proviso shall be inserted with effect from the 1st day of April, 2014, namely:—
‘Provided that where the policy, issued on or after the 1st day of April, 2013, is for insurance on
life of any person, who is—
(a) a person with disability or a person with severe disability as referred to in section 80U, or
(b) suffering from disease or ailment as specified in the rules made under section 80DDB,
the provisions of this sub-section shall have effect as if for the words “ten per cent.”, the words “fifteen
per cent.” had been substituted.’
This an excerpt of Finance Act 2013.
What my contention is we have to read inserted and substituted seperately.