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of <h1>Finance Bill 2020 amends Section 191: New tax rules for start-up shares, sweat equity. Effective April 1, 2020.</h1> Clause 72 of the Finance Bill, 2020, amends section 191 of the Income-tax Act. The section is renumbered and a new sub-section (2) is added. This amendment addresses the direct payment of income tax by an assessee when income includes specified securities or sweat equity shares from an eligible start-up, as per section 80-IAC. The tax is payable within fourteen days of the earliest of three events: forty-eight months after the relevant assessment year, the sale of the securities, or the termination of employment with the employer who allotted the securities. This amendment is effective from April 1, 2020.
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