9911796707
TMI BlogAmendment of section 50AA.X X X X Extracts X X X X X X X X Extracts X X X X ..... tuted with effect from the 23rd day of July, 2024, namely: Notwithstanding anything contained in clause (42A) of section 2 or section 48, where the capital asset― (a) is a unit of a Specified Mutual Fund acquired on or after the 1st day of April, 2023 or a Market Linked Debenture; or (b) is an unlisted bond or an unlisted debenture which is transferred or redeemed or matures on or after the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts sixty-five per cent. or more of its total proceeds in units of a fund referred to in sub-clause (a): Provided that the percentage of investment in debt and money market instruments or in units of a fund, as the case may be, in respect of the Specified Mutual Fund, shall be computed with reference to the annual average of the daily closing figures: Provided further that for the purposes of this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the 23rd day of July, 2024; the full value of consideration received or accruing as a result of the transfer or redemption or maturity of such debenture or unit or bond as reduced by (i) the cost of acquisition of the debenture or unit or bond; and (ii) the expenditure incurred wholly and exclusively in connection with such transfer or redemption or maturity, shall be deemed to be the capital gai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve per cent. of its total proceeds in debt and money market instruments, or a fund which invests sixty-five per cent. or more of its total proceeds in units of a fund referred to in sub-clause (a), provided that the percentage of investment in debt and money market instruments or in units of a fund, as the case may be, in respect of the Specified Mutual Fund, shall be computed with reference to th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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