Section 8 - Amendment of section 32. - Finance Act, 2021

Amendment of section 32. 8. In section 32 of the Income-tax Act, in sub-section (1), (a) in clause (ii), after the words, figures and letters, after the 1 st day of April, 1998, , the words not being goodwill of a business or profession, shall be inserted; (b) in Explanation 3, in clause (b), after the words or commercial rights of similar nature , the words , not being goodwill of a business or profession shall be inserted.