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of <h1>Amendment to Section 55: Cost of Acquisition for Additional Shares or Securities Set to Nil for Tax Calculations</h1> Section 55 of the Income-tax Act has been amended by the Finance Act, 1995, effective April 1, 1996. The amendment modifies sub-section (2), clause (aa), to redefine the treatment of capital assets, specifically shares or securities. It specifies that when an assessee becomes entitled to or is allotted additional financial assets without payment, the cost of acquisition for such assets shall be considered nil. This change affects the calculation of capital gains for tax purposes when additional financial assets are received without payment based on holding existing financial assets.
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