Finance Acts

Amendment of section 194-I.

64. In section 194-I of the Income-tax Act, for the first proviso, the following proviso shall be substituted, namely:-

"Provided that no deduction shall be made under this section, where the income by way of rent credited or paid for a month or part of a month by such person to the account of, or to, the payee, does not exceed fifty thousand rupees:".