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of <h1>Finance Bill 2021 amends Section 54GB, extending capital gains tax exemption for start-ups to March 31, 2022.</h1> Clause 19 of the Finance Bill, 2021, proposes an amendment to section 54GB of the Income-tax Act, which concerns capital gains from the transfer of residential property. The amendment extends the deadline for eligible start-ups to benefit from tax exemptions on capital gains arising from such transfers. Previously set to expire on March 31, 2021, the provision now extends to March 31, 2022. This allows eligible assessees to invest the net consideration from the sale into equity shares of an eligible company by the due date for filing income tax returns, thereby deferring the capital gains tax.
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