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of <h1>Tax Code Shift: New Rules for Capital Gains Calculation on Depreciable Assets Under Section 50</h1> The statutory amendment modifies Section 50 of the Income-tax Act regarding capital gains computation for depreciable assets. It establishes special provisions for calculating capital gains when transferring assets within a block of assets. The amendment introduces rules for determining capital gains when the consideration from asset transfers exceeds the written-down value and acquisition costs, treating such excess as short-term capital gains. It also provides guidelines for scenarios where an entire block of assets is transferred.
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