Section 14 - Amendment of section 47. - Finance Act, 2008

Amendment of section 47. 14. In section 47 of the Income-tax Act,— (a) after clause (x), the following clause shall be inserted, namely:— ''(xa) any transfer by way of conversion of bonds referred to in clause (a) of sub-section (1) of section 115AC into shares or debentures of any company;"; (b) after clause (xv), the following clause shall be inserted, namely:— ''(xvi) any transfer of a capital asset in a transaction of reverse mortgage under a scheme made and notified by the Central Government.".