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Amendment of section 40.

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..... ovided further that where an assessee fails to deduct the whole or any part of the tax in accordance with the provisions of Chapter XVII-B on any such sum but is not deemed to be an assessee in default under the first proviso to sub-section (1) of section 201, then, for the purposes of this sub-clause, it shall be deemed that the assessee has deducted and paid the tax on such sum on the date of fu .....

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..... company, and where such tax has not been deducted or, after deduction, has not been paid on or before the due date for filing the return of income, the amount of such sum shall not be allowed as a deduction. The proviso to the said sub-clause specifies that where in respect of any such sum, tax has been deducted in any subsequent year, or has been deducted during the previous year bu .....

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..... It is further proposed to make a similar consequential amendment in the second proviso to sub-clause ( ia ) of clause ( a ) of section 40 to omit the word resident . These amendments will take effect from 1st April, 2020, and will, accordingly, apply to the assessment year 2020-2021 and subsequent assessment years. - statute, statutory provisions legislation, law, enactmen .....

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