Deemed cost of acquisition rules expanded to specify acquisition cost for shares, mutual fund units, immovable property and trust assets. Section 49 is amended to add deeming rules for cost of acquisition: equity shares received in specified transfers take as cost the attributable part of the preference share cost; units received in a consolidated mutual fund plan take as cost the cost in the consolidating plan; specified immovable property transferred after a possession period has cost equal to its stamp duty value at the second financial year cut off; project shares in land/building take the amount deemed as full value of consideration; and assets whose accreted income was computed and taxed have cost deemed as the fair market value used for that computation.