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Amendment of section 48.

Clause 24 - Bills - DIRECT TAXES - Income-tax - Bill - Clause 24 - 24. In section 48 of the Income-tax Act, with effect from the 1st day of April, 2018,- (a) in the fifth proviso, for the word subscribed , the word held shall be substituted; (b) in t .....

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mode of computation. The fifth proviso to the said section provides that in case of an assessee being a non-resident, any gains arising on account of appreciation of rupee against a foreign currency at the time of redemption of rupee denominated bon .....

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which bears to the cost of acquisition the same proportion as Cost Inflation Index for the year in which the asset is transferred bears to the Cost Inflation Index for the first year in which the asset was held by the assessee or for the year beginni .....

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