Amendment of section 44AB
Amendment of section 44AB.
13. In section 44AB of the Income-tax Act, in clause (a),—
| (i) | in the proviso, in long line, for the words "five crore rupees", the words "ten crore rupees" shall be substituted; | |
| (ii) | after the proviso, the following proviso shall be inserted, namely:— | |
| "Provided further that for the purposes of this clause, the payment or receipt, as the case may be, by a cheque drawn on a bank or by a bank draft, which is not account payee, shall be deemed to be the payment or receipt, as the case may be, in cash.". |