Clause 86 - Amendment of section 196A. - Finance Bill, 2020

Amendment of section 196A. 86. In section 196A of the Income-tax Act, in sub-section (1 ), (a ) for the words of the Unit Trust of India , the words, brackets and figures from the specified company referred to in the Explanation to clause (35 ) of section 10 shall be substituted; (b ) for the words in cash or by the issue of a cheque or draft or by any other mode , the words by any mode shall be substituted; (c ) the proviso shall be omitted.