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        F. Acts / Amendment Acts

        Section 14 - Amendment of section 47.

        Finance Act, 2008
        Chapter III
        DIRECT TAXES

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        Conversion of specified bonds into shares or debentures and reverse mortgage transfers are excluded from transfer for capital gains. Amendment adds two non taxable transfer categories to section 47: conversion of specified bonds into shares or debentures, and transfer of a capital asset under a reverse mortgage scheme notified by the Central Government, each treated as a statutory exclusion from transfer for capital gains purposes.
                          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.

                                Conversion of specified bonds into shares or debentures and reverse mortgage transfers are excluded from transfer for capital gains.

                                Amendment adds two non taxable transfer categories to section 47: conversion of specified bonds into shares or debentures, and transfer of a capital asset under a reverse mortgage scheme notified by the Central Government, each treated as a statutory exclusion from transfer for capital gains purposes.


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