Section 79 - Amendment of section 194J. - Finance Act, 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 services, or royalty where such royalty is in the nature of consideration for sale, distribution or exhibition of cinematographic films 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.