Page 42 - Union Budget_2019
P. 42
Union Budget 2019
MISCELLANEOUS PROVISIONS
10.1 Prescription of electronic mode of payments
To discourage the circulation of black money, various provisions under the Act encourages payment only
other than cash, which are as follows: -
Section Description Mode of Payment/Receipt
13A Exemption upon receipt of donation by a political Only through account payee
party exceeding Rs.2,000 cheque, account payee draft or
electronic clearing system
through a bank account.
35AD Incurring expenditure of capital nature not including Other than through account
payment exceeding Rs.10,000 in a day payee cheque, account payee
draft or electronic clearing
system through a bank
account.
40A Disallowance of any expenditure or aggregate of Other than through account
expenditure exceeding Rs.10,000 payee cheque, account payee
draft or electronic clearing
system through a bank
account.
nd
2 proviso to Cost of the asset not including any expenditure for an Other than through account
Section 43(1) amount exceeding Rs.10,000 in a day payee cheque, account payee
draft or electronic clearing
system through a bank
account.
43CA Stamp duty value on the date of agreement being full Only through account payee
(4)/Second value of consideration for transfer of land or building cheque, account payee draft or
proviso to where date of agreement and date of transfer are electronic clearing system
Section 50C different through a bank account.
(1)/Second
proviso to
Section
56(2)(x)(b)
40
