# The Finance Act, 2023, Section 110: Amendment of section 269SS

- Act: The Finance Act, 2023 (Act 8 of 2023)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2023/section/110/

## Text

Amendment of section 269SS. 110.  In section 269SS of the Income-tax Act,— (a) | after the second proviso and before the Explanation, the following proviso shall be inserted, namely:— "Provided also that the provisions of this section shall have effect, as if for the words "twenty thousand rupees", the words "two lakh rupees" had been substituted in the case of any deposit or loan where,— (a) | such deposit is accepted by a primary agricultural credit society or a primary co-operative agricultural and rural development bank from its member; or (b) | such loan is taken from a primary agricultural credit society or a primary co-operative agricultural and rural development bank by its member."; (b) | in the Explanation, for clause (ii), the following clause shall be substituted, namely:— '(ii) | "co-operative bank", "primary agricultural credit society" and "primary co-operative agricultural and rural development bank" shall have the meanings respectively assigned to them in the Explanation to sub-section (4) of section 80P;'.

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