Section 74 - Amendment of section 194. - Finance Act, 2020

Amendment of section 194. 74. In section 194 of the Income-tax Act,- (A) for the words in cash or before issuing any cheque or warrant , the words by any mode shall be substituted; (B) for the words at the rates in force , the words at the rate of ten per cent. shall be substituted; (C) in the first proviso, (i) in clause (a), for the words an account payee cheque , the words any mode other than cash shall be substituted; (ii) in clause (b), for the words two thousand five hundred rupees , the words five thousand rupees shall be substituted; (D) the third proviso shall be omitted.