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of <h1>Finance Bill 2019 amends Section 50C, expanding accepted payment modes for property transactions from April 2020.</h1> Clause 18 of the Finance (No. 2) Bill, 2019 proposes an amendment to section 50C of the Income-tax Act, which addresses the full value of consideration in certain transactions. The amendment modifies the second proviso of sub-section (1) to include that the consideration can be received not only through an account payee cheque, bank draft, or electronic clearing system but also through other prescribed electronic modes. This change, effective from April 1, 2020, will apply to the assessment year 2020-2021 and beyond, allowing more flexibility in the modes of receiving consideration.
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