Sections 40A(3) of the Income-tax Act, 1961--Payments in excess of Rs. 2,500 to be made by crossed cheques or crossed bank drafts--Suspension of clearing operations by banks--Clarification regarding - Income Tax - 250/1979

Sections 40A(3) of the Income-tax Act, 1961--Payments in excess of Rs. 2,500 to be made by crossed cheques or crossed bank drafts--Suspension of clearing operations by banks--Clarification regarding Circular No. 250 Dated 11/1/1979 To All Commissioners of Income-tax. Sir, Subject : Sections 40A(3) of the Income-tax Act, 1961--Payments in excess of Rs. 2,500 to be made by crossed cheques or crossed bank drafts--Suspension of clearing operations by banks--Clarification regarding. [Circular No. 250 dated January 11, 1979, is the same as the one numbered as Circular No. 1 dated January 11, 1979, which has been published in [1979] 117 ITR (St.) 48--Ed.]