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of <h1>Finance Bill 2023 amends section 45 to expand capital gains consideration to include non-cash modes from 2024.</h1> Clause 20 of the Finance Bill, 2023, amends section 45 of the Income-tax Act concerning capital gains. The amendment modifies sub-section (5A) to redefine the full value of consideration for capital gains arising from the transfer of a capital asset, such as land or buildings, under a specified agreement. Previously, only cash consideration was included, but the amendment now includes any consideration received by cash, cheque, draft, or other modes. This change will be effective from April 1, 2024, and applicable for the assessment year 2024-2025 and onwards.
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