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Amendment of section 40A.

Clause 15 - Bills - DIRECT TAXES - Income-tax - Bill - Clause 15 - 15. In section 40A of the Income-tax Act,- (a) in sub-section (2), in clause (a), in the proviso, after the words Provided that , the words, figures and letters for an assessment year .....

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ank account, exceeds ten thousand rupees, shall be substituted; (B) in sub-section (3A),- (i) after the words account payee bank draft, , the words or use of electronic clearing system through a bank account shall be inserted; (ii) for the words twen .....

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all be substituted; (iv) in the second proviso, for the words twenty thousand rupees , the words ten thousand rupees shall be substituted; (C) in sub-section (4),- (i) after the words account payee bank draft , the words or use of electronic clearing .....

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ayments not deductible in certain circumstances. Sub-section (3) of the said section provides that where the assessee incurs any expenditure in respect of which payment exceeding twenty thousand rupees is made otherwise than by an account payee chequ .....

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