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of <h1>Amendment to Section 45: Interim Compensation Taxed as Capital Gains from Assessment Year 2015-16 Onwards</h1> Clause 17 of the Finance (No. 2) Bill, 2014 proposes an amendment to section 45 of the Income-tax Act concerning capital gains. It introduces a proviso to sub-section (5), clause (b), stipulating that compensation received under an interim court, Tribunal, or authority order will be considered income under 'Capital gains' in the year the final order is issued. This change, effective from April 1, 2015, applies to the assessment year 2015-16 and onwards, ensuring that interim compensation is taxed in the year of the final decision.
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