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<h1>Finance Bill 2023 to Amend Section 112 of Income-Tax Act; Removes Sub-section 3 on Long-Term Capital Gains Tax</h1> Clause 49 of the Finance Bill, 2023 proposes an amendment to section 112 of the Income-tax Act, which pertains to the taxation of long-term capital gains. The amendment involves the removal of sub-section (3) from section 112, a change that aligns with the prior omission of section 88. This legislative amendment is set to be effective from April 1, 2023.