Deduction under section 194-IB no longer references section 206AB, narrowing when higher withholding caps apply.

The amendment omits the reference to section 206AB from sub section (4) of section 194-IB, which previously capped deduction where tax was required to be deducted under section 206AA or section 206AB; after the amendment, the cap provision applies only in relation to section 206AA. The provision concerns deduction of tax by certain individuals and Hindu undivided families on rent payments. The amendment takes effect from the commencement date specified in the Finance Bill.

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