Clause 11
Amendment of section 13M
of Income Tax (Amendment) Bill
BillNot in forceProvision 11 of 53
Clause 11
Section 13M of the principal Act is amended by inserting, immediately after subsection (5), the following subsection:“(5A) Notwithstanding anything in this section, the exemption under this section shall not apply to any gains or profits derived by a qualifying employee on or after 1st January 2024.”.