Para 1 - Short title, commencement and application - Capital Gains Accounts Scheme, 1988

CAPITAL GAINS ACCOUNTS SCHEME, 1988 [G.S.R. 724(E), DATED 22-6-1988] In exercise of the powers conferred by sub-section (2) of section 54, sub-section (2) of section 54B, sub-section (2) of section 54D, sub-section (4) of section 54F 1 [ sub-section (2) of section 54G and sub-section (2) of section 54GB ] of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby frames the following Scheme, namely :- Short title, commencement and application. 1. (1) This Scheme may be called the Capital Gains Accounts Scheme, 1988. (2) It shall come into force on the date of its publication in the Official Gazette. (3) It applies to all assessees who are eligible for exemption under section 54, 54B, 54D, 54F 2 [ 54G or 54GB ] of the Income-tax Act, 1961 (43 of 1961). ----------------------- Notes:- 1. Substituted vide Notification No. 44/2012, dated 25/10/2012 before it was read as and sub-section (2) of section 54G 2. Substituted vide Notification No. 44/2012, dated 25/10/2012 before it was read as or 54G