- In section 112 of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 2015,-(a)in the proviso, occurring after clause (d), for the words "being listed securities or unit", the words and brackets "being listed securities (other than a unit)" shall be substituted;(b)after the proviso, occurring after clause (d), the following proviso shall be inserted, namely:-"Provided further that where the tax payable in respect of any income arising from the transfer of a long-term capital asset, being a unit of a Mutual Fund specified under clause (23D) of section 10, during the period beginning on the 1st day of April, 2014 and ending on the 10th day of July, 2014, exceeds ten per cent. of the amount of capital gains, before giving effect to the provisions of the second proviso to section 48, then, such excess shall be ignored for the purpose of computing the tax payable by the assessee.";(c)in the Explanation, clause (b) shall be omitted.
