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of <h1>Finance Act 2014 Amendment Expands Section 269SS to Include Electronic Clearing for Loans and Deposits from April 2015.</h1> Section 269SS of the Income-tax Act has been amended by the Finance (No. 2) Act, 2014, to include the phrase 'or use of electronic clearing system through a bank account' after 'cheque or account payee bank draft.' This amendment, effective from April 1, 2015, expands the permissible methods for accepting loans or deposits to include electronic clearing systems, in addition to cheques and bank drafts.
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