Section 30 - Amendment of section 54F. - Finance Act, 2023

Amendment of section 54F. 30 . In section 54F of the Income-tax Act, with effect from the 1st day of April, 2024, (a) in sub-section (1), after the proviso and before the Explanation, the following proviso shall be inserted, namely: Provided further that where the cost of new asset exceeds ten crore rupees, the amount exceeding ten crore rupees shall not be taken into account for the purposes of this sub-section. ; (b) in sub-section (4), (i) after the words amount so deposited shall , the words, brackets and figure , subject to the second proviso to sub-section (1) shall be inserted; (ii) after the proviso, the following proviso shall be inserted, namely: Provided further that the net consideration in excess of ten crore rupees shall not be taken into account for the purposes of this sub-section. .