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of <h1>Income-tax Act Amendments: Increased Monetary Limits for Sections 40A(3), 269SS, 269T Effective April 1, 1989.</h1> The Direct Taxes Laws (Amendment) Act, 1987, has amended sections 40A(3), 269SS, and 269T of the Income-tax Act, 1961, raising the monetary limits to Rs. 10,000 and Rs. 20,000, effective from April 1, 1989. The Board clarifies that these amendments apply to payments or repayments under sections 269SS and 269T made on or after this date. For section 40A(3), the changes affect payments made in the previous year relevant to the assessment year 1989-90 and subsequent years.
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