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of <h1>Finance Bill 2017: Amendments to Section 49 on Capital Gains for Andhra Pradesh Land Pooling Scheme Assets.</h1> Clause 25 of the Finance Bill, 2017 amends section 49 of the Income-tax Act to address the cost determination for specific capital assets acquired under the Andhra Pradesh Capital City Land Pooling Scheme. A new sub-section (6) is introduced, stipulating that for capital gains arising from such transfers, the asset's acquisition cost will be the stamp duty value as of the last day of the second financial year post-possession. This applies when the asset is transferred after two years from possession. The term 'stamp duty value' is defined, and these changes are effective from April 1, 2018, applicable from the assessment year 2018-2019 onwards.
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