Speak now

(a) in rule 2BB, after sub-rule (2), the following sub-rule shall be inserted, namely:— “(3) Notwithstanding anything contained in sub-rule (1) and (2), an employee, being an assessee, who has exercised option under sub-section (5) of section 115BAC shall be entitled to exemption only in respect of the allowances mentioned in sub-clauses (a) to (c) of sub-rule (1) and at serial no.11 of the Table below sub-rule (2) to the extent and subject to the conditions, if any, specified therein.”; (b) in rule 3, in sub-rule (7), in clause (iii), after the proviso, the following proviso shall be inserted.