Clause 11 - Amendment of Section 47 - Finance Bill, 2008

11. In section 47 of the Income-tax Act,— ( a ) after clause ( x ), the following clause shall be inserted, namely:— ''( xa ) any transfer by way of conversion of bonds referred to in clause ( a ) of sub-section ( 1 ) of section 115AC into shares or debentures of any company;"; ( b ) after clause ( xv ), the following clause shall be inserted, namely:— ''( xvi ) any transfer of a capital asset in a transaction of reverse mortgage under a scheme made and notified by the Central Government.".