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of <h1>Section 115AC Amended: New Sub-section (5) Applies to Shares from Amalgamation or Demerger, Effective April 1, 2000.</h1> Section 115AC of the Income-tax Act is amended to include a new sub-section (5), effective April 1, 2000. This provision states that if an assessee acquires shares or bonds in an amalgamated or resulting company due to their holdings in an amalgamating or demerged company, the provisions of sub-section (1) will apply to these shares or bonds.
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