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of <h1>Finance Act 2007 amends Section 13 of Income-tax Act, retroactive from 1999, affecting trust-held company shares.</h1> Section 13 of the Income-tax Act has been amended by the Finance Act, 2007. In sub-section (1), clause (d), sub-clause (ii) is replaced with a new sub-clause (iii), effective retroactively from April 1, 1999. This amendment specifies that any shares in a company, except for shares in a public sector company or shares prescribed under clause (xii) of sub-section (5) of section 11, held by a trust or institution after November 30, 1983, are subject to this provision.
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