# The Finance Act, 1997, Section 18: Amendment of section 48

- Act: The Finance Act, 1997
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1997/section/18/

## Text

Amendment of section 48. 18. In section 48 of the Income-tax Act, after the second proviso, the following proviso shall be inserted with effect from the 1st day of April, 1998, namely :— "Provided also that nothing contained in the second proviso shall apply to the long-term capital gain arising from the transfer of a long-term capital asset being bond or debenture other than capital indexed Bonds issued by the Government.". © Copyright. Taxmann Publications Pvt. Ltd.

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