Tax deduction threshold change: section 194B amended to increase the minimum payment triggering deduction under the income tax law. Amendment substitutes the prior monetary threshold in section 194B of the Income-tax Act-replacing one thousand rupees with five thousand rupees-by the Finance Act, 1986, with effect from the commencement date specified in that Act.
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Provisions expressly mentioned in the judgment/order text.
Tax deduction threshold change: section 194B amended to increase the minimum payment triggering deduction under the income tax law.
Amendment substitutes the prior monetary threshold in section 194B of the Income-tax Act-replacing one thousand rupees with five thousand rupees-by the Finance Act, 1986, with effect from the commencement date specified in that Act.
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