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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Act 2001 amends Income-tax Act, section 55: Changes for trademarks, brand names, and stock exchange shares.</h1> The Finance Act, 2001 amends section 55 of the Income-tax Act, effective from April 1, 2002. In sub-section (2), clause (a) is modified to include 'or a trade mark or brand name associated with a business' after 'good will of a business.' Additionally, a new clause (ab) is introduced, specifying that for equity shares allotted to shareholders of a recognized stock exchange in India under a corporatisation scheme approved by the Securities and Exchange Board of India, the cost of acquisition is considered the cost of the original exchange membership.
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