Amendment of section 49.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....47" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 1999. - Clause 16 of the Bill seeks to amend section 49 of the Income-tax Act relating to cost with reference to certain modes of acquisition. The existing provisions contained in the aforesaid section 49 provide that, in certain circumstances the cost of acquisition of the assets shall ....