Income Tax Amendment: Section 192A Raises Deduction Threshold from Rs. 30,000 to Rs. 50,000 for Employee Balances.

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....Amendment of section 192A. - no deduction of income-tax shall be made where the amount of income relating to accumulated balance due to an employee credited or paid or likely to be credited or paid during the financial year to the account of, or to, the payee does not exceed thirty thousand rupees - this limit enhanced to fifty thousand rupees.....