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of <h1>Finance Bill 2019 Amends Section 276CC: Raises Tax Payable Threshold, Effective April 2020 for Assessment Year 2020-2021.</h1> Clause 65 of the Finance (No. 2) Bill, 2019 amends section 276CC of the Income-tax Act concerning the failure to file income tax returns. The amendment changes the proviso, specifically sub-clause (b) of clause (ii), to increase the threshold for tax payable from three thousand rupees to ten thousand rupees. It also includes references to self-assessment tax and tax collected at source, applicable to individuals other than companies. This amendment will be effective from April 1, 2020, affecting the assessment year 2020-2021 and subsequent years.
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