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Clause 28 - Amendment of section 54EC. - FINANCE BILL, 2023

FINANCE BILL, 2023
Chapter III
DIRECT TAXES - Income-tax
  • Contents

Amendment of section 54EC.

28. In section 54EC of the Income-tax Act, in sub-section (3), clause (a) shall be omitted.

 



 

Notes on Clauses:

Clause 28 of the Bill seeks to amend section 54EC of the Income-tax Act relating to capital gain not to be charged on investment in certain bonds.

It is proposed to omit clause (a) of sub-section (3) of the said section which is consequential due to the omission of section 88.

This amendment will take effect from 1st April, 2023.