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of <h1>Finance Bill 2015 Amends Section 269T: Mandates Account Payee Repayment for Specified Advances Over 20,000 from June 1, 2015.</h1> Clause 67 of the Finance Bill, 2015, amends section 269T of the Income-tax Act, effective June 1, 2015. The amendment includes 'specified advances' alongside loans and deposits, mandating repayment through account payee cheque, bank draft, or online transfer if the amount is twenty thousand rupees or more. 'Specified advance' is defined as any sum received in relation to an immovable property transfer, repayable if the transfer does not occur. These changes aim to regulate the repayment methods of such financial transactions to ensure transparency and compliance.
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