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of <h1>Finance Bill 2018 amends Section 36 to allow deductions for marked to market losses, effective retroactively from April 1, 2017.</h1> In the Finance Bill, 2018, an amendment to section 36 of the Income-tax Act is proposed. This amendment introduces a new clause (xviii) to sub-section (1), allowing deductions for marked to market losses or other expected losses. These deductions must be computed according to the income computation and disclosure standards specified under section 145(2). The amendment is retroactively effective from April 1, 2017, applying to the assessment year 2017-2018 and onwards. This change aims to refine the deductions available under the 'Profits and gains of business or profession' category.
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