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of <h1>Amendment to Section 35AD: Payments over 10,000 must be via cheque, bank draft, or electronic transfer.</h1> Section 35AD of the Income-tax Act was amended by the Finance Act, 2017, effective from April 1, 2018. In sub-section (8), clause (f), it specifies that any expenditure will not include payments exceeding ten thousand rupees made to a person in a day unless these payments are made through an account payee cheque, an account payee bank draft, or an electronic clearing system via a bank account.
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