Widening scope of other capital assets in certain mode of Acquisition :
| CLAUSE(S) OF FINANCE BILL, 2017 |
PARTICUL ARS OF AMENDME NTS | SECTION | AMENDMENT / NEWLY INSERTED |
APPLICABLE W.E.F. |
BRIEF OF AMENDMENT |
| 25 | Widening scope of other capital assets in certain mode of Acquisition |
Sec 49 Inserted subsection (2AD) & (2AE) |
Amended | 01.04.17 | Where the capital asset, being equity share of a company, became the property of the assessee in consideration of a transfer referred to in clause (xb) of section 47, the cost of acquisition of the asset shall be deemed to be that part of the cost of the preference share in relation to which such asset is acquired by the assessee.
Where the capital asset, being a unit or units in a consolidated plan of a mutual fund scheme, became the property of the assessee in consideration of a transferreferred to in clause (xix) of section 47, the cost of acquisition of the asset shall be deemed to be the cost of acquisition to him of the unit or units in the consolidating plan of the scheme of the mutual fund.
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