Section - 15A - Exemption of portion of earned income
[15A. Exemption of portion of earned income.—The tax shall not be payable by an assessee in respect of such portion, if any, of the earned income included in his total income as is directed by the annual [Central Act] fixing the rate or rates of tax for any year to be deducted in making an assessment for that year, and for the purposes of determining the rates at which income-tax (but not super-tax) is payable by the assessee for that year his total income shall be deemed to be the total income reduced by the said portion.]
Inserted by s. 3, Indian I.T. (Amendment) Ordinance, 1945. Substituted for "Act of the Central Legislature" by Adaptation of Laws Order, 1950.
[As amended up to date]
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