# The Finance Act, 2023, Section 111: Amendment of section 269T

- Act: The Finance Act, 2023 (Act 8 of 2023)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2023/section/111/

## Text

Amendment of section 269T. 111.  In section 269T 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 paid by a primary agricultural credit society or a primary co-operative agricultural and rural development bank to its member; or (b) | such loan is repaid to 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 Explanation to sub-section (4) of section 80P;'.

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