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    <description>The amendment prescribes that for a capital asset declared under the Income Declaration Scheme, 2016, an immovable property&#039;s holding period shall be reckoned from the acquisition date if evidenced by a deed registered with a State Government authority; in other cases the holding period shall be reckoned from the commencement of the scheme. The rules are titled Income-tax (34th Amendment) Rules, 2016 and take effect from the scheme commencement date.</description>
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