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of <h1>New Definition of 'Net Worth' in Section 50B: Asset Value Minus Liabilities, Excludes Revaluation Changes</h1> The amendment to section 50B of the Income-tax Act redefines 'net worth' for the purposes of this section. It stipulates that net worth is the total asset value of an undertaking or division minus its liabilities as recorded in its books. Any asset revaluation changes are excluded from net worth calculations. For depreciable assets, the net worth is based on the written down value as per section 43, while for other assets, it is based on their book value.
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