Clause 25 - Amendment of section 49.

Cost of acquisition rules expanded to specify deemed acquisition costs for shares, mutual fund units, pooled land and trust assets.

Amendments prescribe deemed cost of acquisition rules: include an additional transfer category under section 47 for carryover of previous owner's cost; deem equity shares received for preference shares to have cost equal to the related portion of the preference share's cost; treat units in a consolidated mutual fund plan as having the assessee's cost in the consolidating plan; deem cost of land pooled specified assets transferred after a two year holding as the stamp duty value on the relevant date; fix project share cost as the amount treated as full value of consideration; and deem trust assets subject to accreted income tax to have cost equal to the fair market value used for accreted income computation.