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of <h1>Income Tax Bill 2025: Clause 72 Modernizes Capital Gains Computation, Integrates Inflation, Currency Factors, Updates Deductions</h1> Clause 72 of the Income Tax Bill, 2025, outlines the computation of capital gains, modernizing the framework established by Section 48 of the Income-tax Act, 1961. It aims to streamline tax calculations by integrating contemporary economic factors like inflation and currency fluctuations. Key updates include the use of a 'Cost Inflation Index' reflecting 75% of the Consumer Price Index rise, explicit disallowance of certain deductions, and detailed provisions for non-residents and business trusts. These changes enhance clarity and precision, potentially reducing disputes and improving compliance, particularly benefiting taxpayers with complex financial transactions.
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