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of <h1>Finance Bill 2014 amends Section 269T: Loan repayments of 20,000+ can now use electronic clearing from April 2015.</h1> Clause 64 of the Finance (No. 2) Bill, 2014, amends section 269T of the Income-tax Act concerning the repayment methods for loans and deposits. Previously, repayments of twenty thousand rupees or more had to be made via account payee cheque or bank draft. The amendment, effective April 1, 2015, allows repayments to also be made using an electronic clearing system through a bank account. This change applies to the assessment year 2015-16 and subsequent years.
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