Clause 6 - Amendment of section 9A. - Finance Bill, 2020

Amendment of section 9A. 6. In section 9A of the Income-tax Act, in sub-section (3), (a) in clause (c), the following proviso shall be inserted, namely: Provided that for the purposes of calculation of the said aggregate participation or investment in the fund, any contribution made by the eligible fund manager during the first three years of operation of the fund, not exceeding twenty-five crore rupees, shall not be taken into account; ; (b) in clause (j), in the first proviso, for the words six months from the last day of the month of its establishment or incorporation, or at the end of such previous year, whichever is later , the words twelve months from the last day of the month of its establishment or incorporation shall be substituted.