# The Finance Act, 2023, Section 31: Amendment of section 55

- Act: The Finance Act, 2023 (Act 8 of 2023)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2023/section/31/

## Text

Amendment of section 55. 31.  In section 55 of the Income-tax Act, with effect from the 1st day of April, 2024,— (a) | in sub-section (1), in clause (b), in sub-clause (1),— (i) | after the word "goodwill", the words "or any other intangible asset" shall be inserted; (ii) | after the word "profession", the words "or any other right" shall be inserted; (b) | in sub-section (2), in clause (a),— (i) | for the words "profession, or a right", the words "profession, or any other intangible asset or a right" shall be substituted; (ii) | for the word "hour,", the words "hour, or any other right" shall be substituted.

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