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Determination of cost of specified transfers u/s 49 - any transfer in a demerger of a capital asset being a share or shares held in an Indian company cost of the previous owner to be taken - Budget 2017-18 w.e.f. AY 2018-19

Dated:- 3-2-2017 - Clause - 025 - Amendment of section 49. THE FINANCE BILL, 2017 Clause 25 of the Bill seeks to amend section 49 of the Income-tax Act relating to cost with reference to certain modes of acquisition. The existing provisions contained in sub-section (1) of the said section provides that where the capital asset became the property of the assessee under certain situations, the cost of acquisition of the asset shall be deemed to be the cost for which the previous owner of .....

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