Clause 23 - Amendment of section 49 - Finance (No. 2) Bill, 2009

Amendment of section 49. 23. In section 49 of the Income-tax Act, for sub-section (2AA), the following sub-section shall be substituted with effect from the 1st day of April, 2010, namely:— "(2AA) Where the capital gain arises from the transfer of specified security or sweat equity shares referred to in sub-clause (vi) of clause (2) of section 17, the cost of acquisition of such security or shares shall be the fair market value which has been taken into account for the purposes of the said sub-clause.".