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of <h1>New Section 50D in Income-tax Act: Capital Gains Tax Based on Fair Market Value for Unascertainable Transfers</h1> Clause 17 of the Finance Bill, 2012 proposes the insertion of section 50D into the Income-tax Act, effective from April 1, 2013. This section addresses situations where the consideration for the transfer of a capital asset is unascertainable or indeterminable. In such cases, the fair market value of the asset on the transfer date is deemed the full value of the consideration for calculating capital gains tax. This provision applies from the assessment year 2013-2014 onwards, ensuring that capital gains are computed based on fair market value when actual sale consideration cannot be determined.
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