Telecom Regulatory Authority of India Act : Amendment of section 48. Indian Bare Acts :

Telecom Regulatory Authority of India Act,1997

Act No : 24

Section : Amendment of section 48.

18. 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, 1988, namely:- "Provided also the 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".