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of <h1>Finance Act 2010 Amends Section 49 of Income-tax Act: Updates to Clauses and New Sub-section 2AAA Added</h1> Section 49 of the Income-tax Act was amended by the Finance Act, 2010, effective April 1, 2011. In sub-section (1), clause (iii), sub-clause (e), the reference to 'clause (vicb) of section 47' is replaced with 'clause (vicb) or clause (xiiib) of section 47.' A new sub-section (2AAA) is added, relating to the cost of acquisition of a capital asset upon conversion under clause (xiiib) of section 47. Sub-section (4) is amended to include 'or clause (viia)' after 'clause (vii),' effective June 1, 2010.
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