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of <h1>Amendment to Section 49: Defines cost of acquisition for segregated portfolios in Finance Bill 2020, effective April 1, 2020.</h1> Clause 25 of the Finance Bill, 2020 proposes amendments to section 49 of the Income-tax Act concerning the cost of acquisition for certain capital assets. It introduces sub-sections (2AG) and (2AH), specifying that the cost of acquisition for units in a segregated portfolio is proportionate to the net asset value of the asset transferred relative to the total portfolio before segregation. The cost of original units in the main portfolio is adjusted accordingly. Definitions for 'main portfolio,' 'segregated portfolio,' and 'total portfolio' are referenced from a Securities and Exchange Board of India circular. This amendment is effective from April 1, 2020, applicable from the assessment year 2020-2021 onward.
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