Corpus treatment under section 13: purchase/conversion exclusion removed and bonus shares recognised as corpus. The amendment alters the proviso to clause (d) of sub section (1) of section 13 to remove the exclusion barring assets purchased or acquired by conversion or exchange from corpus, expressly treats accretion to corpus by way of bonus shares as corpus, and substitutes a later year reference in another clause of the proviso.
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Corpus treatment under section 13: purchase/conversion exclusion removed and bonus shares recognised as corpus.
The amendment alters the proviso to clause (d) of sub section (1) of section 13 to remove the exclusion barring assets purchased or acquired by conversion or exchange from corpus, expressly treats accretion to corpus by way of bonus shares as corpus, and substitutes a later year reference in another clause of the proviso.
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