# The Finance Act, 2019 (No. 2), Section 50: Amendment of section 201

- Act: The Finance Act, 2019 (No. 2)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2019-no-2/section/50/

## Text

Amendment of section 201 50. In section 201 of the Income-tax Act, with effect from the 1st day of September, 2019,— (a) | in sub-section (1), in the first proviso, for the word "resident" wherever it occurs, the word "payee" shall be substituted; (b) | in sub-section (1A), in the proviso, for the word "resident" wherever it occurs, the word "payee" shall be substituted; (c) | in sub-section (3), after the words "credit is given", the words, brackets and figures "or two years from the end of the financial year in which the correction statement is delivered under the proviso to sub-section (3) of section 200, whichever is later" shall be inserted.

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