# The Finance Act, 2020, Section 74: Amendment of Section 194

- Act: The Finance Act, 2020
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2020/section/74/

## Text

Amendment of section 194. 74. In section 194 of the Income-tax Act,— (A) | for the words "in cash or before issuing any cheque or warrant", the words "by any mode" shall be substituted; (B) | for the words "at the rates in force", the words "at the rate of ten per cent" shall be substituted; (C) | in the first proviso,— (i) | in clause (a), for the words "an account payee cheque", the words "any mode other than cash" shall be substituted; (ii) | in clause (b), for the words "two thousand five hundred rupees", the words "five thousand rupees" shall be substituted; (D) | the third proviso shall be omitted.

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