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of <h1>Amendment to Section 40A: Payment Limit Raised to 35,000 for Goods Carriages from October 1, 2009.</h1> Clause 16 of the Finance (No. 2) Bill, 2009 proposes an amendment to section 40A of the Income-tax Act. The amendment affects sub-sections (3) and (3A), which currently disallow deductions for payments exceeding twenty thousand rupees made in a day without an account payee cheque or bank draft. The amendment introduces a proviso increasing this limit to thirty-five thousand rupees specifically for payments related to plying, hiring, or leasing goods carriages. This change is set to take effect from October 1, 2009.
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