Amendment of section 54GB.

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..... asset, being computer or computer software, acquired by an eligible start-up referred to in the proviso to clause (d) of sub-section (6), the provisions of this sub-section shall have effect as if for the words five years , the words three years had been substituted. ; (ii) in sub-section (5), in the proviso, for the figures 2019 , the figures 2021 shall be substituted; .....

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..... and the company has, within one year from the date of subscription in equity shares by the assessee, utilised this amount for purchase of new asset, then, the amount so utilised shall not be charged to tax as the income of the previous year. It is further provided that the new assets shall not be sold or otherwise transferred within a period of five years from the date of their acquisition; the c .....

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..... ction; and the assessee shall have more than twenty-five per cent. share capital or more than twenty-five per cent. voting rights after the subscription in shares in the eligible company. This amendment will take effect from 1st April, 2020 and will, accordingly, apply in relation to the assessment year 2020-2021 and subsequent assessment years. - statute, statutory provisions .....

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