Amendment of section 40A.

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..... ffect from the 1st day of April, 2018,- (A) in sub-section (3), for the words exceeds twenty thousand rupees , the words or use of electronic clearing system through a bank account, exceeds ten thousand rupees, shall be substituted; (B) in sub-section (3A),- (i) after the words account payee bank draft, , the words or use of electronic clearing system through a bank account shall be inserted; (ii) .....

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..... tain circumstances. Sub-section (3) of the said section provides that where the assessee incurs any expenditure in respect of which payment exceeding twenty thousand rupees is made otherwise than by an account payee cheque drawn on a bank or account payee bank draft to a person in a single day, no deduction shall be allowed in respect of such expenditure. It is proposed to amend the said sub-secti .....

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