Section 42C

Maximum limit on admissibility of tax credit

ActIn forceProvision 60 of 140

The total amount of tax credits under this Act (excluding tax credit under section 42) shall not exceed 50 per cent of the total tax payable by a person in one year of assessment.

Read in full context — Income Tax Act →

Section 42C

Maximum limit on admissibility of tax credit

of Income Tax Act

ActIn forceProvision 60 of 140

The total amount of tax credits under this Act (excluding tax credit under section 42) shall not exceed 50 per cent of the total tax payable by a person in one year of assessment.

Read in full context — Income Tax Act →