Clause 49 - Computation of income from transfer of any investment asset. - Direct Taxes Code, 2010

Computation of income from transfer of any investment asset. 49. (1) The income from the transfer of any investment asset during the financial year shall be the full value of the consideration accrued or received as a result of the transfer, as reduced by the aggregate amount of the deductions referred to in section 51. (2) For the purpose of computation of income from the transfer of an investment asset, being any beneficial interest in respect of securities referred to in clause (d) of subsection (2) of section 48, the cost of acquisition and the period of holding of such securities shall be determined on the basis of first-in-first-out method.