Finance Act 1997 Section 18 - Bare Act |
| State | Central Government |
| Year | 1997 |
| Section Title | Amendment of Section 48 |
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.".