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of <h1>Finance Bill 2017 Amends Income-tax Act: Section 49 Now Addresses Cost of Acquisition for Mutual Fund Transfers.</h1> Clause 25 of the Finance Bill, 2017 amends section 49 of the Income-tax Act to address the cost of acquisition for specified transfers. It introduces sub-section (2AF), which stipulates that when a capital asset, specifically a unit or units in a consolidated mutual fund plan, is acquired through a transfer under clause (xix) of section 47, the acquisition cost is deemed to be the cost of the units in the consolidating plan. This amendment is effective from April 1, 2017, applicable for the assessment year 2017-2018 and onwards.
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