Amendment of section 194C

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Full Text of the Document

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.... (b) in the proviso, for the words "fifty thousand rupees", the words "seventy-five thousand rupees" shall be substituted. - Clause 37 of the Bill seeks to amend section 194C of the Income-tax Act relating to payments to contractors. Under the existing provisions contained in sub-section (5) of the aforesaid section, no deduction of income-tax shall be made from the amount of any sum credited....