# The Finance Act, 1991, Section 18: Amendment of section 47

- Act: The Finance Act, 1991 (Act 49 of 1991)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1991/section/18/

## Text

Amendment of section 47. 18. In section 47 of the Income-tax Act, after clause (ix) and the Explanation thereto, the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1962, namely: — " (x) any transfer by way of conversion of debentures, debenture-stock or deposit certificates in any form, of a company into shares or debentures of that company.". [Finance (No. 2) Act, 1991] © Copyright. Taxmann Publications Pvt. Ltd.

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