Income Tax Act, 2025
Section 9: Ins. by Act 28 of 2016, s. 30 (w.e.f. 12017).
9. Ins. by Act 28 of 2016, s. 30 (w.e.f. 12017).
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1[(6) Where the capital gain arises from the transfer of a specified capital asset referred to in clause (c) of
the Explanation to clause (37A) of section 10, which has been transferred after the expiry of two years from
the end of the financial year in which the possession of such asset was handed over to the assessee, the cost of
acquisition of such specified capital asset shall be deemed to be its stamp duty value as on the last day of the
second financial year after the end of the financial year in which the possession of the said specified capital
asset was handed over to the assessee.
Explanation.––For the purposes of this sub-section, “stamp duty value” means the value adopted or
assessed or assessable by any authority of the State Government for the purpose of payment of stamp duty
in respect of an immovable property.
(7) Where the capital gain arises from the transfer of a capital asset, being share in the project, in the
form of land or building or both, referred to in sub-section (5A) of section 45, not being the capital asset
referred to in the proviso to the said sub-section, the cost of acquisition of such asset, shall be the amount
which is deemed as full value of consideration in that sub-section;]
2[(8) Where the capital gain arises from the transfer of an asset, being the asset held by a trust or an
institution in respect of which accreted income has been computed and the tax has been paid thereon in
accordance with the provisions of Chapter XII-EB, the cost of acquisition of such asset shall be deemed to
be the fair market value of the asset which has been taken into account for computation of accreted
income as on the specified date referred to in sub-section (2) of section 115TD.”.]
3[(9) Where the capital gain arises from the transfer of a capital asset referred to in clause (via) of
section 28, the cost of acquisition of such asset shall be deemed to be the fair market value which has
been taken into account for the purposes of the said clause.]
4[50. Special provision for computation of capital gains in case of depreciable assets.—
Notwithstanding anything contained in clause (42A) of section 2, where the capital asset is an asset
forming part of a block of assets in respect of which depreciation has been allowed under this Act or
under the Indian Income-tax Act, 1922 (11 of 1922), the provisions of sections 48 and 49 shall be subject
to the following modifications:—
(1) where the full value of the consideration received or accruing as a result of the transfer of the
asset together with the full value of such consideration received or accruing as a result of the transfer
of any other capital asset falling within the block of the assets during the previous year, exceeds the
aggregate of the following amounts, namely:—
(i) expenditure incurred wholly and exclusively in connection with such transfer or transfers;
(ii) the written down value of the block of assets at the beginning of the previous year; and
(iii) the actual cost of any asset falling within the block of assets acquired during the
previous year,
such excess shall be deemed to be the capital gains arising from the transfer of short-term capital assets;
(2) where any block of assets ceases to exist as such, for the reason that all the assets in that block are
transferred during the previous year, the cost of acquisition of the block of assets shall be the written
down value of the block of assets at the beginning of the previous year, as increased by the actual cost of
any asset falling within that block of assets, acquired by the assessee during the previous year and the
income received or accruing as a result of such transfer or transfers shall be deemed to be the capital gains
arising from the transfer of short-term capital assets.]
5[50A. Special provision for cost of acquisition in case of depreciable asset.—Where the capital
asset is an asset in respect of which a deduction on account of depreciation under clause (i) of
sub-section (1) of section 32 has been obtained by the assessee in any previous year, the provisions of
section 48 and 49 shall apply subject to the modification that the written down value, as defined in
clause (6) of section 43, of the asset, as adjusted, shall be taken as the cost of acquisition of the asset.]
Where the capital gain arises from the transfer of a specified capital asset referred to in clause
of
the Explanation to clause
of section 10, which has been transferred after the expiry of two years from
the end of the financial year in which the possession of such asset was handed over to the assessee, the cost of
acquisition of such specified capital asset shall be deemed to be its stamp duty value as on the last day of the
second financial year after the end of the financial year in which the possession of the said specified capital
asset was handed over to the assessee.
Explanation.––For the purposes of this sub-section, “stamp duty value” means the value adopted or
assessed or assessable by any authority of the State Government for the purpose of payment of stamp duty
in respect of an immovable property.
Where the capital gain arises from the transfer of a capital asset, being share in the project, in the
form of land or building or both, referred to in sub-section
of section 45, not being the capital asset
referred to in the proviso to the said sub-section, the cost of acquisition of such asset, shall be the amount
which is deemed as full value of consideration in that sub-section;]
2[
Where the capital gain arises from the transfer of an asset, being the asset held by a trust or an
institution in respect of which accreted income has been computed and the tax has been paid thereon in
accordance with the provisions of Chapter XII-EB, the cost of acquisition of such asset shall be deemed to
be the fair market value of the asset which has been taken into account for computation of accreted
income as on the specified date referred to in sub-section
of section 115TD.”.]
3[
Where the capital gain arises from the transfer of a capital asset referred to in clause
of
section 28, the cost of acquisition of such asset shall be deemed to be the fair market value which has
been taken into account for the purposes of the said clause.]
4[50. Special provision for computation of capital gains in case of depreciable assets.—
Notwithstanding anything contained in clause
of section 2, where the capital asset is an asset
forming part of a block of assets in respect of which depreciation has been allowed under this Act or
under the Indian Income-tax Act, 1922 (11 of 1922), the provisions of sections 48 and 49 shall be subject
to the following modifications:—
where the full value of the consideration received or accruing as a result of the transfer of the
asset together with the full value of such consideration received or accruing as a result of the transfer
of any other capital asset falling within the block of the assets during the previous year, exceeds the
aggregate of the following amounts, namely:—
expenditure incurred wholly and exclusively in connection with such transfer or transfers;
the written down value of the block of assets at the beginning of the previous year; and
the actual cost of any asset falling within the block of assets acquired during the
previous year,
such excess shall be deemed to be the capital gains arising from the transfer of short-term capital assets;
where any block of assets ceases to exist as such, for the reason that all the assets in that block are
transferred during the previous year, the cost of acquisition of the block of assets shall be the written
down value of the block of assets at the beginning of the previous year, as increased by the actual cost of
any asset falling within that block of assets, acquired by the assessee during the previous year and the
income received or accruing as a result of such transfer or transfers shall be deemed to be the capital gains
arising from the transfer of short-term capital assets.]
5[50A. Special provision for cost of acquisition in case of depreciable asset.—Where the capital
asset is an asset in respect of which a deduction on account of depreciation under clause
of
sub-section
of section 32 has been obtained by the assessee in any previous year, the provisions of
section 48 and 49 shall apply subject to the modification that the written down value, as defined in
clause
of section 43, of the asset, as adjusted, shall be taken as the cost of acquisition of the asset.]