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of <h1>Finance Bill 2019 amends Income-tax Act; changes to section 40 impact tax deductions from April 2020.</h1> Clause 10 of the Finance (No. 2) Bill, 2019 proposes amendments to section 40 of the Income-tax Act concerning non-deductible amounts. It introduces a proviso in sub-clause (i) stating that if an assessee fails to deduct tax under Chapter XVII-B but is not considered in default per section 201, the tax will be deemed deducted and paid on the return filing date by the payee. Additionally, the amendment removes the word 'resident' from sub-clause (ia). These changes apply from April 1, 2020, affecting the assessment year 2020-2021 and onwards.
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