Section 20 - Amendment of section 54GB. - Finance (No. 2) Act, 2019

Amendment of section 54GB. 20. In section 54GB of the Income-tax Act, with effect from the 1st day of April, 2020,- (i) in sub-section (4), the following proviso shall be inserted, namely:- Provided that in case of a new asset, being computer or computer software, acquired by an eligible start-up referred to in the proviso to clause (d) of sub-section (6), the provisions of this sub-section shall have effect as if for the words five years , the words three years had been substituted. ; (ii) in sub-section (5), in the proviso, for the figures 2019 , the figures 2021 shall be substituted; (iii) in sub-section (6), in clause (b), in sub-clause (iii), for the word fifty at both the places where it occurs, the word twenty-five shall be substituted.