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of <h1>Finance Bill 2017: Amendment to Section 48 Changes Capital Gains Calculation Base Year to 2001.</h1> Clause 24 of the Finance Bill, 2017 proposes an amendment to section 48 of the Income-tax Act concerning the computation of capital gains. The amendment changes the reference date for the 'indexed cost of acquisition' from April 1, 1981, to April 1, 2001. This change affects how the Cost Inflation Index is applied when calculating capital gains, aligning the base year to 2001. These amendments are effective from April 1, 2018, applicable for the assessment year 2018-2019 and onwards.
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