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of <h1>New Income Tax Bill 2025: Clause 74 Updates Capital Gains Computation for Depreciable Assets, Enhancing Section 50 Framework</h1> The Income Tax Bill, 2025, introduces Clause 74, which updates the computation of capital gains for depreciable assets, enhancing the framework established by Section 50 of the Income-tax Act, 1961. Clause 74 aims to provide a clearer, more consistent methodology, emphasizing the short-term treatment of gains when the sale consideration exceeds the asset's written-down value and transfer costs. It also addresses scenarios where a block of assets ceases to exist. Both provisions aim to prevent undue tax advantages from depreciation claims, but Clause 74 offers a more structured approach. Compliance with these provisions is crucial for accurate tax reporting.
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