Section 34 - Amendment of section 55 - Finance Act, 2001

34. Amendment of section 55 In section 55 of the Income-tax Act, in sub-section (2), with effect from 1st day of April, 2002, - (a) in clause (a), after the words good will of a business , the words, or a trade mark or brand name associated with a business shall be inserted; (b) after clause (aa), the following clause shall be inserted, namely:- (ab) in relation to a capital asset, being equity share or shares allotted to a shareholder of a recognised stock exchange in India under a scheme for corporatisation approved by the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), shall be the cost of acquisition of his original membership of the exchange, .