# The Finance Act, 2018, Section 34: Amendment of section 115AD

- Act: The Finance Act, 2018 (Act 13 of 2018)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2018/section/34/

## Text

Amendment of section 115AD. 34. In section 115AD of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 2019,— (a) | in clause (iii), the word "and" occurring at the end shall be omitted; (b) | after clause (iii), the following proviso shall be inserted, namely:— "Provided that in case of income arising from the transfer of a long-term capital asset referred to in section 112A, income-tax at the rate of ten per cent shall be calculated on such income exceeding one lakh rupees; and".

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