Electronic payment modes permitted for capital expenditure deductions, allowing prescribed electronic transfers to qualify for deduction. Amendment permits specified electronic payment methods, as prescribed by the Board, to qualify for deduction of capital expenditure for specified business, replacing the prior limitation to account payee cheques, account payee bank drafts, or electronic clearing through a bank account; this change is effective from the stated commencement and applies to the applicable assessment year and following years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Electronic payment modes permitted for capital expenditure deductions, allowing prescribed electronic transfers to qualify for deduction.
Amendment permits specified electronic payment methods, as prescribed by the Board, to qualify for deduction of capital expenditure for specified business, replacing the prior limitation to account payee cheques, account payee bank drafts, or electronic clearing through a bank account; this change is effective from the stated commencement and applies to the applicable assessment year and following years.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.