Clause 19 - Amendment of section 47. - Finance (No. 2) Bill, 2024

Amendment of section 47. 19. In section 47 of the Income-tax Act, for clause (iii), the following clause shall be substituted with effect from the 1st day of April, 2025, namely: (iii) any transfer of a capital asset by an individual or a Hindu undivided family, under a gift or will or an irrevocable trust; .