Redemption of Sovereign Gold Bond: not treated as transfer for individuals; mutual fund plan consolidations and LLP conversion conditions also excluded.

Section 47 is amended to exclude from "transfer" (i) redemption of Sovereign Gold Bonds by individuals, (ii) certain company-to-LLP conversions subject to an asset-value condition in the three preceding years, and (iii) exchanges of units by unit holders from a consolidating plan to a consolidated plan within the same mutual fund scheme, with definitions supplied for consolidating plan, consolidated plan and mutual fund; amendments effective from 1st April, 2017.

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