Amendment of section 50AA.

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.... have been substituted with effect from the 23rd day of July, 2024, namely:-- "Notwithstanding anything contained in clause (42A) of section 2 or section 48, where the capital asset― (a) is a unit of a Specified Mutual Fund acquired on or after the 1st day of April, 2023 or a Market Linked Debenture; or (b) is an unlisted bond or an unlisted debenture which is tran....

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.... than sixty-five per cent. of its total proceeds in debt and money market instruments; or (b) a fund which invests sixty-five per cent. or more of its total proceeds in units of a fund referred to in sub-clause (a): Provided that the percentage of investment in debt and money market instruments or in units of a fund, as the case may be, in respect of the Specified Mutual Fund, sh....

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.... the 1st day of April, 2023 or a Market Linked Debenture; or (b) is an unlisted bond or an unlisted debenture which is transferred or redeemed or matures on or after the 23rd day of July, 2024; the full value of consideration received or accruing as a result of the transfer or redemption or maturity of such debenture or unit or bond as reduced by- (i) the cost of acquisition o....

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....y closing figures. It is further proposed to substitute the clause (ii) of the Explanation and its proviso to provide that "Specified Mutual Fund" means a Mutual Fund by whatever name called, which invests more than sixty-five per cent. of its total proceeds in debt and money market instruments, or a fund which invests sixty-five per cent. or more of its total proceeds in units of a fund referr....