Section 87 - Amendment of section 196A. - Finance Act, 2020

Amendment of section 196A. 87. 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.