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of <h1>Amendments to Section 49 and Clause 42A Define Acquisition Cost and Holding Period for Segregated Mutual Fund Portfolios.</h1> The proposed amendments to section 49 and clause (42A) of section 2 of the Act address the treatment of segregated portfolios in mutual fund schemes. SEBI's circular allows mutual funds to create segregated portfolios for debt and money market instruments. The amendments define the cost of acquisition and holding period for units in segregated portfolios. Sub-section (42A) will include the holding period of original units, while new sub-sections (2AG) and (2AH) in section 49 will determine the cost of acquisition based on the net asset value proportion. These changes will be effective from April 1, 2020, applicable to the assessment year 2020-21 onward.
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