# The Finance Act, 2001, Section 34: Amendment of section 55

- Act: The Finance Act, 2001
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2001/section/34/

## Text

Amendment of section 55. 34. 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 "goodwill 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;". © Copyright. Taxmann Publications Pvt. Ltd.

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