Amendment of section 49

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..... f a transfer as referred to in clause (xvii) of section 47, the cost of acquisition of the asset shall be deemed to be the cost of acquisition to him of the share referred to in the said clause. . - Clause 20 of the Bill seeks to amend section 49 of the Income- tax Act relating to cost with reference to certain modes of acquisition. The existing provisions of the aforesaid section provide for the .....

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