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of <h1>Section 194H Amended: New Monetary Limits Set at One Crore for Business and Fifty Lakh for Profession</h1> Section 194H of the Income-tax Act has been amended by the Finance Act, 2020. The amendment replaces the monetary limits specified under clause (a) or clause (b) of section 44AB with new thresholds. Now, the limit is set at one crore rupees for business and fifty lakh rupees for profession.
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