Sec 40 a (3) - cash payments

https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx

The new limit is mentioned in the above url

In the above URL it is as follows :

(3) Where the assessee incurs any expenditure in respect of which a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, 12[exceeds twenty thousand rupees,] no deduction shall be allowed in respect of such expenditure.

click on 12

12[exceeds twenty thousand rupees,] 

 

So, it means Rs. 20,000 (not Rs. 10,000)

When I clisk 12 , it says as follows "

12. Words "or use of electronic clearing system through a bank account, exceeds ten thousand rupees," shall be sub. for "exceeds twenty thousand rupees," by Act No. 7 of 2017, (w.e.f. 1-4-2018)

Accordingly Rs. 10,000 is w.e.f 1-4- 2018 and for F.Y. 2017 - 18, it remains Rs. 10,000/- , Am I Correct ? 

for F.Y. 2017 - 18, it remains Rs. 20,000/- , Am I Correct ? 

 

This amendment will take effect from 1 April, 2018 and will, accordingly, apply in relation to the assessment year 2018-19 (Fy 17-18) and subsequent years.