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of <h1>New Sub-section (3) in Section 49: Transferee Company Must Use Original Acquisition Cost for Capital Gains Calculation.</h1> Section 49 of the Income-tax Act, 1961, is amended to include a new sub-section (3). This sub-section specifies that, despite the provisions in sub-section (1), if a capital gain from the transfer of a capital asset, as mentioned in section 47 clauses (iv) or (v), is considered chargeable income under 'Capital gains' due to section 47A, the cost of acquisition for the transferee company will be the original acquisition cost of the asset.
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