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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Act 2008 amends Section 49 of the Income-tax Act, affecting cost of acquisition for shares and debentures.</h1> Section 49 of the Income-tax Act has been amended by the Finance Act, 2008. The amendment replaces sub-section (2A) with a new provision. It specifies that when a capital asset, such as a share or debenture of a company, is acquired by an assessee through a transfer mentioned in clause (x) or clause (xa) of section 47, the cost of acquisition for the assessee is considered to be the portion of the cost of the debenture, debenture-stock, bond, or deposit certificate related to the acquired asset.
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