- 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".
