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of <h1>Clause 40, Income Tax Bill 2025: Defines acquisition cost for assets from mergers, gifts, trusts; excludes section 67(6) assets.</h1> Clause 40 of the Income Tax Bill, 2025, outlines the computation of the cost of acquisition for certain assets under the 'Profits and gains of business or profession' category. For assets acquired through amalgamation, gifts, wills, irrevocable trusts, or Hindu undivided family partitions, the acquisition cost includes the original cost in the hands of the amalgamating company or transferor, any improvements made, and expenses incurred exclusively for the transfer. This provision excludes assets mentioned in section 67(6).
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