Amendment of section 111A.

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..... the second proviso shall be omitted with effect from the 1st day of April, 2016. - Clause 26 of the Bill seeks to amend section 111A of the Income-tax Act relating to tax on short-term capital gains .....

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..... of the said section shall now be applicable in respect of any income arising from transfer of units of a business trust which were acquired by the assessee in exchange of the shares of a special purpo .....

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