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of <h1>Amendment to Section 51: Advances During Capital Asset Transfer Now Excluded from Acquisition Cost Deductions</h1> Clause 21 of the Finance (No. 2) Bill, 2014 amends section 51 of the Income-tax Act, effective April 1, 2015. The amendment introduces a proviso stating that any sum received as an advance or otherwise during negotiations for transferring a capital asset, if included in the assessee's total income for a previous year under section 56(2)(ix), will not be deducted from the cost of acquisition, written down value, or fair market value when computing the asset's acquisition cost. This change applies from the assessment year 2015-16 onwards.
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