CHAPTER VIA — DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME
Case Laws & Commentary
SECTION 80L — DEDUCTION FOR INTEREST, DIVIDENDS, ETC. OF INDIVIDUALS/HUFs (OMITTED)
Omitted-Section Note (Income-tax Act, 1961 as amended by Finance Act, 2026)
STATUS — OMITTED PROVISION
Section 80L of the Income-tax Act, 1961 stands OMITTED and is not in force for any current assessment year. This note records the omission for completeness of the Chapter VIA series.
BARE-ACT ENTRY (verbatim, Income-tax Act, 1961 as amended by Finance Act, 2025)
80L. [Omitted by the Finance Act, 2005, w.e.f. 1-4-2006.]
A. HISTORICAL NOTE
Section 80L allowed individuals and Hindu undivided families a deduction (subject to a monetary ceiling) in respect of interest on specified Government securities, debentures, bank and post-office deposits, and certain dividend and investment income. It was a long-standing relief for small savers.
It was omitted by the Finance Act, 2005 with effect from 1 April 2006 (assessment year 2006-07 onward). The later-introduced sections 80TTA (savings-bank interest) and 80TTB (interest income of senior citizens) now occupy part of the same field.
B. CASE LAW
The provision stands omitted and confers no deduction for any current assessment year. No case law is digested. Decisions rendered under it survive only as historical authority and for reassessment of years in which it was in force.
Editorial note on sourcing
Bare-Act omission entry reproduced verbatim from the Income-tax Act, 1961 as amended by the Finance Act, 2025 (no Finance Act, 2026 change affects an already-omitted provision). Insertion/omission history stated from the bare-Act footnote. No case law is digested for an omitted provision; any historical authority is noted only for context.
Case Laws & Commentary
SECTION 80L — DEDUCTION FOR INTEREST, DIVIDENDS, ETC. OF INDIVIDUALS/HUFs (OMITTED)
Omitted-Section Note (Income-tax Act, 1961 as amended by Finance Act, 2026)
STATUS — OMITTED PROVISION
Section 80L of the Income-tax Act, 1961 stands OMITTED and is not in force for any current assessment year. This note records the omission for completeness of the Chapter VIA series.
BARE-ACT ENTRY (verbatim, Income-tax Act, 1961 as amended by Finance Act, 2025)
80L. [Omitted by the Finance Act, 2005, w.e.f. 1-4-2006.]
A. HISTORICAL NOTE
Section 80L allowed individuals and Hindu undivided families a deduction (subject to a monetary ceiling) in respect of interest on specified Government securities, debentures, bank and post-office deposits, and certain dividend and investment income. It was a long-standing relief for small savers.
It was omitted by the Finance Act, 2005 with effect from 1 April 2006 (assessment year 2006-07 onward). The later-introduced sections 80TTA (savings-bank interest) and 80TTB (interest income of senior citizens) now occupy part of the same field.
B. CASE LAW
The provision stands omitted and confers no deduction for any current assessment year. No case law is digested. Decisions rendered under it survive only as historical authority and for reassessment of years in which it was in force.
Editorial note on sourcing
Bare-Act omission entry reproduced verbatim from the Income-tax Act, 1961 as amended by the Finance Act, 2025 (no Finance Act, 2026 change affects an already-omitted provision). Insertion/omission history stated from the bare-Act footnote. No case law is digested for an omitted provision; any historical authority is noted only for context.