Clause 74 - Amendment of section 194. - Finance Bill, 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.