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of <h1>Finance Bill 2020 amends Income-tax Act: Business Trust listing rule removed, new holding period rule for segregated portfolios.</h1> Clause 3 of the Finance Bill, 2020 proposes amendments to section 2 of the Income-tax Act. It modifies clause (13A) by removing the requirement for business trusts, such as Infrastructure and Real Estate Investment Trusts, to be listed on a recognized stock exchange. This change takes effect from April 1, 2021, applicable from the assessment year 2021-2022 onwards. Additionally, clause (42A) is amended to include a new sub-clause (hh) in the Explanation, allowing the holding period of original units in a main portfolio to be considered for segregated portfolios. This amendment is effective from April 1, 2020, applicable from the assessment year 2020-2021.
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