Clause 16
Amendment of section 19B
of Income Tax (Amendment) Bill
BillNot in forceProvision 16 of 44
Clause 16
Section 19B of the principal Act is amended —
(a)
by inserting, immediately after subsection (2A), the following subsection:“(2B) The Minister or such person as he may appoint may in any particular case waive the requirement under subsection (2A) in respect of any intellectual property rights acquired on or after 17th February 2006, subject to such conditions as he may impose.”; and
(b)
by deleting subsection (10) and substituting the following subsection:“(10) No writing-down allowance under subsection (1) shall be made for any capital expenditure incurred in respect of intellectual property rights acquired after 31st October 2008.”.