Section 56 - Amendment of section 206AA. - Finance Act, 2021

Amendment of section 206AA. 56 . In section 206AA of the Income-tax Act, in sub-section (1), after the proviso, the following proviso shall be inserted with effect from the 1st day of July, 2021,namely: Provided further that where the tax is required to be deducted under section 194Q, the provisions of clause (iii) shall apply as if for the words twenty per cent. , the words five per cent. had been substituted. .