The Statutory Brief

IT Act 1961 → 2025 / Sections 46–55A

Capital gains

Sections 46–55A → Sections 68–91

Liquidation, buy-back, cost by mode of acquisition, depreciable assets 50, MLD 50AA, unquoted shares 50CA, advance money 51, 54D–54H, valuation officer

Sections 46–55A of the old Income-tax Act, 1961 · new sections 68–91 under the Income-tax Act, 2025

New reference Sections 68 to 91 (capital gains — special provisions)

Income-tax Act, 1961Sections 46–55A

  • 46, 46A: liquidation distributions and buy-back of shares
  • 49: cost to previous owner for gifts, inheritance etc.; 50, 50A depreciable assets
  • 50AA: MLDs taxed as short-term; 50CA: FMV for unquoted shares; 50D: FMV where consideration unascertainable
  • 51: advance money forfeited; 54D–54H exemptions and extension; 55A valuation officer

Applies to FY 2025-26 (AY 2026-27) and earlier years.

Income-tax Act, 2025Sections 68 to 91 (capital gains — special provisions)

  • 68: liquidation; 69: buy-back
  • 73: cost with reference to mode of acquisition
  • 74, 75: depreciable assets; 76: market linked debentures
  • 79: unquoted shares; 80: FMV as consideration; 81: advance money; 84–89 exemptions; 91 valuation officer

Applies from tax year 2026-27 (from 1 April 2026).

Section-by-section mapping (15 sections)

1961 ActSubject2025 Act
46Capital gains on distribution of assets by companies in liquidation68
46ACapital gains on purchase by company of its own shares or other specified securities69
47AWithdrawal of exemption in certain cases71
49Cost with reference to certain modes of acquisition73
50Special provision for computation of capital gains in case of depreciable assets74
50ASpecial provision for cost of acquisition in case of depreciable asset75
50AASpecial provision for computation of capital gains in case of Market Linked Debenture76
50CASpecial provision for full value of consideration for transfer of share other than quoted share79
50DFair market value considered to be full value of consideration in certain cases80
51Advance money received81
54DCompulsory acquisition of industrial land and buildings84
54GShifting industrial undertaking from urban area87
54GAShifting industrial undertaking to an SEZ88
54HExtension of time for acquiring new asset or depositing or investing amount of capital gains89
55AReference to Valuation Officer91

Source: CBDT mapping of sections, Income-tax Act 1961 to Income-tax Act 2025.

What changed

Renumbered, with one real change: Finance Act 2026 rewrote section 69 (buy-back) — from 1 April 2026 buy-back is taxed as capital gains again, with additional tax for promoters. See the 46A page.

Practice notes

  • Main capital gains provisions (45, 48, 50B, 50C, 54, 54B, 54EC, 54F, 112, 112A) have their own pages.
  • Advance money forfeited after 1 April 2014 is taxed under other sources — see section 56.

These are summaries, not the statutory text. Read the bare Act for both sections on the Income Tax Department's official site, which also has a side-by-side comparison utility.

Frequently asked

What is section 46 called in the new Income-tax Act, 2025?

Section 46 of the Income-tax Act, 1961 (Capital gains on distribution of assets by companies in liquidation) corresponds to section 68 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).

What is section 46A called in the new Income-tax Act, 2025?

Section 46A of the Income-tax Act, 1961 (Capital gains on purchase by company of its own shares or other specified securities) corresponds to section 69 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).

What is section 47A called in the new Income-tax Act, 2025?

Section 47A of the Income-tax Act, 1961 (Withdrawal of exemption in certain cases) corresponds to section 71 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).

What is section 49 called in the new Income-tax Act, 2025?

Section 49 of the Income-tax Act, 1961 (Cost with reference to certain modes of acquisition) corresponds to section 73 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).

What is section 50 called in the new Income-tax Act, 2025?

Section 50 of the Income-tax Act, 1961 (Special provision for computation of capital gains in case of depreciable assets) corresponds to section 74 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).

What is section 50A called in the new Income-tax Act, 2025?

Section 50A of the Income-tax Act, 1961 (Special provision for cost of acquisition in case of depreciable asset) corresponds to section 75 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).

What changed in Sections 46–55A under the new Income Tax Act?

Renumbered, with one real change: Finance Act 2026 rewrote section 69 (buy-back) — from 1 April 2026 buy-back is taxed as capital gains again, with additional tax for promoters. See the 46A page.

Related sections

46A→69Buy-back of shares — back to capital gains, extra tax for promoters (Finance Act 2026)45→67Charge of capital gains: when a transfer gives rise to taxable gains48→72How capital gains are computed: sale value less transfer expenses and cost50C→78Stamp duty value as sale consideration for land or building50B→77Capital gains on slump sale of an undertaking54→82Exemption on long-term capital gain from sale of a residential house reinvested in another residential house