https://www.taxtmi.com/acts?id=20419 The amendment inserts "or profession" into section 55 so that capital assets comprising goodwill and rights to carry on a profession are treated like business-related intangibles: cost of improvement is nil, and cost of acquisition is the purchase price if bought or nil otherwise, aligning professional goodwill and professional rights with existing rules for business assets. en-us Mon, 29 Feb 2016 16:34:49 +0530 Mon, 29 Feb 2016 16:34:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20419 The amendment inserts "or profession" into section 55 so that capital assets comprising goodwill and rights to carry on a profession are treated like business-related intangibles: cost of improvement is nil, and cost of acquisition is the purchase price if bought or nil otherwise, aligning professional goodwill and professional rights with existing rules for business assets. Act-Rules Bill Mon, 29 Feb 2016 16:34:49 +0530 https://www.taxtmi.com/acts?id=20419