Amendment of section 49

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Full Text of the Document

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....hares referred to in sub-clause (vi) of clause (2) of section 17, the cost of acquisition of such security or shares shall be the fair market value which has been taken into account for the purposes of the said sub-clause.". - Clause 23 of the Bill seeks to amend section 49 of the Incometax Act, which relates to cost with reference to certain modes of acquisition. The existing provisions conta....