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of <h1>Section 194C Amendment: Clarification on Credited Sums to Suspense Accounts from June 1, 1988, Affects Tax Provisions.</h1> Section 194C of the Income-tax Act is amended by inserting an Explanation, effective from June 1, 1988. This Explanation clarifies that any sum credited to any account, including a 'Suspense account' or any other name, in the books of the payer will be considered as credited to the payee's account. Consequently, the provisions of section 194C will apply to such transactions.
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