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of <h1>Amendment to Income-tax Act Section 40: Tax Deductions Conditional on Timely Payment per Section 139(1). Effective April 2010.</h1> Clause 12 of the Finance Bill, 2010, amends section 40 of the Income-tax Act concerning non-deductible amounts. The amendment modifies sub-clause (ia) of clause (a), stipulating that tax deductions on payments such as interest, commission, or fees must be paid by the due date specified in section 139(1) to avoid disallowance in income computation. The proviso allows deductions if tax is deducted in a subsequent year or during the previous year but paid after the due date. This change is retroactively effective from April 1, 2010, applicable to the assessment year 2010-2011 onward.
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