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        Clause 21 - Amendment of section 50AA.

        Finance (No. 2) Bill, 2024
        Chapter III
        DIRECT TAXES - Income-tax

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        Capital gains treatment for specified mutual fund units and unlisted debentures deemed short-term, altering computation rules. Amendment to section 50AA deems the net consideration from units of a Specified Mutual Fund acquired on or after 1 April 2023, Market Linked Debentures, and unlisted bonds or debentures transferred, redeemed or maturing on or after 23 July 2024, after deducting cost of acquisition and transfer-related expenditure, to be capital gains arising from transfer of a short-term capital asset; the opening substitution is retrospective to 23 July 2024, and the Explanation redefining Specified Mutual Fund (debt- and money-market-focused funds) takes effect from 1 April 2026.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Capital gains treatment for specified mutual fund units and unlisted debentures deemed short-term, altering computation rules.

                                Amendment to section 50AA deems the net consideration from units of a Specified Mutual Fund acquired on or after 1 April 2023, Market Linked Debentures, and unlisted bonds or debentures transferred, redeemed or maturing on or after 23 July 2024, after deducting cost of acquisition and transfer-related expenditure, to be capital gains arising from transfer of a short-term capital asset; the opening substitution is retrospective to 23 July 2024, and the Explanation redefining Specified Mutual Fund (debt- and money-market-focused funds) takes effect from 1 April 2026.


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