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of <h1>Finance Bill 2018 amends Income-tax Act section 49 to redefine capital gains cost basis, effective April 2019.</h1> Clause 18 of the Finance Bill, 2018 proposes an amendment to section 49 of the Income-tax Act. This amendment introduces a new sub-section (9), effective from April 1, 2019, specifying that for capital gains arising from the transfer of certain capital assets mentioned in section 28(via), the cost of acquisition should be considered as the fair market value used for that clause. This change applies to the assessment year 2019-2020 and subsequent years, impacting the calculation of capital gains tax for relevant transactions.
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