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TMI BlogCapital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securitiesX X X X Extracts X X X X X X X X Extracts X X X X ..... tal asset 3[before the 1st day of April, 2000] (the capital asset so transferred being hereafter in this section referred to as the original asset) and the assessee has, at any time within a period of six months after the date of such transfer, invested the whole or any part of the net consideration in any of the 4[bonds, debentures, shares of a public company or units of any mutual fund referred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall not be charged under section 45. (2) Where the 9[specified securities] are transferred or converted (otherwise than by transfer) into money at any time within a period of three years from the date of their acquisition, the amount of capital gain arising from the transfer of the original asset not charged under section 45 on the basis of the cost of such 10[specified securities] as provided ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Notes :- 1. Sections 54EA and 54EB inserted by the Finance (No. 2) Act, 1996, w.e.f. 1-10-1996. 2. Substituted for "specified bonds or debentures" by the Income-tax (Amendment) Act, 1997, w.r.e.f. 1-10-1996. 3. Inserted by the Finance Act, 2000, w.e.f. 1-4-2001. 4. Substituted for "bonds, debentures or units of any mutual fund referred to in clause (23D) of section 10," by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Income-tax (Amendment) Act, 1997, w.r.e.f. 1-10-1996. 13. Substituted by the Income-tax (Amendment) Act, 1997, w.r.e.f. 1-10-1996. 14. Substituted by the Income-tax (Amendment) Act, 1997, w.r.e.f. 1-10-1996. 15. Substituted by the Income-tax (Amendment) Act, 1997, w.r.e.f. 1-10-1996. 16. Substituted by the Income-tax (Amendment) Act, 1997, w.r.e.f. 1-10-1996. 17. Substituted by the Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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