Clause 79 - Amendment of section 194J. - Finance Bill, 2020

Amendment of section 194J. 79. In section 194J of the Income-tax Act, in sub-section (1 ), (a ) in the long line, for the words ten per cent. of such sum , the words and brackets two per cent. of such sum in case of fees for technical services (not being a professional service) and ten per cent. of such sum in other cases, shall be substituted; (b ) in the second proviso, for the words, brackets, letters and figures the monetary limits specified under clause (a ) or clause (b ) of section 44AB , the words one crore rupees in case of business or fifty lakh rupees in case of profession shall be substituted.