Amendment of section 45

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..... shareholder to whom any shares are allotted by the company by way of bonus shall, unless such shares are issued wholly out of the share premium account, be chargeable to income-tax under the head "Capital gains" in respect of such shares on an amount equal to the fair market value of such shares on the date next following the expiry of the period of thirty days from the date of such all .....

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..... (3) Where any shares in respect of which an assessee is chargeable to income-tax under the head "Capital gains" under sub-section (2) are transferred by him before the expiry of the period of thirty days referred to in that sub-section, any profits or gains arising from such transfer shall not be included in his total income. (4) Save as otherwise provided in sub-section (3), nothing .....

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