TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2019: Amendments to Section 54GB Reduce Asset Transfer Restriction for Start-ups; Tax Exemption Deadline Extended</h1> Clause 20 of the Finance (No. 2) Bill, 2019 proposes amendments to section 54GB of the Income-tax Act, effective April 1, 2020. For eligible start-ups, the restriction period for transferring new assets, specifically computers or software, is reduced from five years to three years. The eligibility for capital gains tax exemption on residential property transfers is extended to March 31, 2021. Additionally, the required share capital or voting rights for the assessee in the eligible company is lowered from over fifty percent to over twenty-five percent. These changes apply from the assessment year 2020-2021 onwards.
TaxTMI 
TaxTMI 
