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of <h1>Finance Bill 2022 amends Section 50: Goodwill removal from asset block considered a transfer for capital gains.</h1> Clause 15 of the Finance Bill, 2022, amends section 50 of the Income-tax Act concerning capital gains computation for depreciable assets. The amendment introduces an Explanation that retrospectively, from April 1, 2021, the reduction of goodwill from a block of assets, as specified in section 43, will be considered a transfer. This change affects the calculation of capital gains where goodwill was part of a depreciable asset block as of April 1, 2020, and depreciation was claimed. The amendment applies to the assessment year 2021-2022 and onwards.
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