TMI BlogAmendment of section 40A.X X X X Extracts X X X X X X X X Extracts X X X X ..... carriages, the provisions of sub-sections (3) and (3A) shall have effect as if for the words "twenty thousand rupees", the words "thirty-five thousand rupees" had been substituted.'. - Clause 16 of the Bill seeks to amend section 40A of the Incometax Act relating to expenses or payments not deductible in certain circumstances. The existing provisions contained in sub-section (3) of the said ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and accordingly chargeable to income-tax as income of the subsequent year if the payment or aggregate of payments made to a person in a day, exceeds twenty thousand rupees. It is proposed to insert a second proviso so as to provide that in case of payment made for plying, hiring or leasing goods carriages, the ceiling of twenty thousand rupees specified in sub-sections (3) and (3A) shall be enh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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