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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Act 2020 amends Section 191: New tax payment rules for income from start-up securities or sweat equity shares.</h1> Section 191 of the Income-tax Act has been amended by the Finance Act, 2020, introducing a new sub-section (2). This provision applies to assessee income from specified securities or sweat equity shares allotted or transferred by eligible start-ups under section 80-IAC. The income tax on such income must be paid by the assessee within fourteen days of the earliest of the following: forty-eight months after the relevant assessment year ends, the date of sale of the securities or shares, or the date the assessee ceases employment with the employer who allotted or transferred the securities or shares.
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