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of <h1>Finance Bill 2019 Amends Sections 56(2)(x) and 50CA to Ease Tax Burden on Share Transfers from April 2020.</h1> The Finance Bill 2019 proposes amendments to sections 56(2)(x) and 50CA of the Income-tax Act, which deal with the fair market value of shares for tax purposes. Currently, section 56(2)(x) exempts certain transactions from its provisions, but section 50CA does not. This can cause hardship when share transfer prices are determined by authorities beyond the seller's control. The amendments aim to empower the Board to exempt specific transactions from these sections, providing relief for certain transactions. These changes will be effective from April 1, 2020, applicable to the assessment year 2020-21 onwards.
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