Section 50 - Amendment of section 201. - Finance (No. 2) Act, 2019

Amendment of section 201. 50. In section 201 of the Income-tax Act, with effect from the 1st day of September, 2019, (a) in sub-section (1), in the first proviso, for the word resident wherever it occurs, the word payee shall be substituted; (b) in sub-section (1A), in the proviso, for the word resident wherever it occurs, the word payee shall be substituted; (c) in sub-section (3), after the words credit is given , the words, brackets and figures or two years from the end of the financial year in which the correction statement is delivered under the proviso to sub-section (3) of section 200, whichever is later shall be inserted.