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of <h1>Finance Bill 2020: New Tax Rules for Start-Up Securities; Pay Within 14 Days After Key Events.</h1> Clause 71 of the Finance Bill, 2020, amends section 156 of the Income-tax Act by introducing a new sub-section (2). This amendment specifies that for assessment years starting on or after April 1, 2021, if an assessee's income includes specified securities or sweat equity shares from an eligible start-up employer, tax or interest must be paid within fourteen days of the earliest of three events: forty-eight months after the relevant assessment year ends, the sale of the securities, or the cessation of employment with the employer who allotted the securities. This amendment is effective from April 1, 2020.
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