Clause 3 - Amendment of section 2. - Finance Bill, 2020

CHAPTER III DIRECT TAXES Income-tax Amendment of section 2. 3. In section 2 of the Income-tax Act, (i) in clause (13A), with effect from the 1st day of April, 2021, (a) in sub-clause (ii), the word and occurring at the end shall be omitted; (b) the long line shall be omitted; (ii) in clause (42A), in Explanation 1, in clause (i), after sub-clause (hg), the following sub-clause shall be inserted, namely: (hh) in the case of a capital asset, being a unit or units in a segregated portfolio referred to in sub-section (2AG) of section 49, there shall be included the period for which the original unit or units in the main portfolio were held by the assessee; .