Capital gains computation: net consideration less allowable deductions determines current capital income and interacts with unabsorbed losses.

Income from transfer of an investment asset equals the full value of consideration received or accrued less aggregate allowable deductions; the net for each asset aggregated yields the current income from capital gains, which is combined with unabsorbed preceding year capital loss to determine income under the head Capital gains; a negative aggregate is treated as nil and its absolute value becomes the unabsorbed current capital loss.

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