Amendment of section 194D
Amendment of section 194D
48. In section 194D of the Income-tax Act, after the proviso, the following proviso shall be inserted with effect from the 1st day of June, 1987, namely:—
"Provided further that no deduction shall be made under this section in a case where the amount of such in come or, as the case may be, the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year to the account of or to the payee does not exceed five thousand rupees.".
[Finance Act, 1987]