# The Finance Act, 2009, Section 23: Amendment of section 49

- Act: The Finance Act, 2009
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2009/section/23/

## Text

Amendment of section 49. 23. In section 49 of the Income-tax Act,— (a ) for sub-section (2AA), the following sub-section shall be substituted with effect from the 1st day of April, 2010, namely:— "(2AA) Where the capital gain arises from the transfer of specified security or sweat equity shares referred to in sub-clause (vi) of clause (2) of section 17, the cost of acquisition of such security or shares shall be the fair market value which has been taken into account for the purposes of the said sub-clause."; (b ) after sub-section (3), the following sub-section shall be inserted with effect from the 1st day of October, 2009, namely :— "(4) Where the capital gain arises from the transfer of a property, the value of which has been subject to income-tax under clause (vii) of sub-section (2) of section 56, the cost of acquisition of such property shall be deemed to be the value which has been taken into account for the purposes of the said clause (vii).". © Copyright. Taxmann Publications Pvt. Ltd.

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