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Section 32A and 32AB applicability
is section 32A and 32AB still applicable for fresh investment? if yes, then why under section 32AB it is written that no deduction is available after assessment year commencing 1st April 1991.
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Summary: Sections 32A and 32AB of the Income Tax Act are no longer applicable for new investments. They were phased out by the government, with Section 32AB specifically prohibiting deductions for any assessment year commencing on or after April 1, 1991. You cannot use these sections for tax planning or deductions for any current or future investments.
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