Section 47 Amendment: Mutual Fund Unit Transfers Within Same Scheme Not Taxed as Capital Gains.

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Full Text of the Document

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....Amendment of section 47 - any transfer by a unit holder of a capital asset, being a unit or units, held by him in the consolidating plan of a mutual fund scheme, made in consideration of the allotment to him of a capital asset, being a unit or units, in the consolidated plan of that scheme of the mutual fund shall not be considered as transfer for capital gain tax purposes.....