Cash payment limit aligned with statutory ceiling, updating rule 6DD and applied retrospectively to remove anomaly. Amendment substitutes every occurrence of the words 'ten thousand' in rule 6DD of the Income tax Rules, 1962 with 'twenty thousand', effective retrospectively from 1 April 1997, to align the rule's payment threshold with the higher ceiling prescribed by section 40A(3) and to remove the inconsistency between the rule and the amended statute.
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Cash payment limit aligned with statutory ceiling, updating rule 6DD and applied retrospectively to remove anomaly.
Amendment substitutes every occurrence of the words "ten thousand" in rule 6DD of the Income tax Rules, 1962 with "twenty thousand", effective retrospectively from 1 April 1997, to align the rule's payment threshold with the higher ceiling prescribed by section 40A(3) and to remove the inconsistency between the rule and the amended statute.
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