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TMI BlogCapital gain not to be charged on investment in units of a specified fund.X X X X Extracts X X X X X X X X Extracts X X X X ..... y time within a period of six months after the date of such transfer, invested the whole or any part of capital gains in the long-term specified asset, the capital gain shall be dealt with in accordance with the following provisions of this section, namely:- (a) if the cost of the long-term specified asset is not less than the capital gain arising from the transfer of the original asset, the whol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n which the original asset or assets are transferred and in the subsequent financial year does not exceed fifty lakh rupees. (2) Where the long-term specified asset is transferred by the assessee at any time within a period of three years from the date of its acquisition, the amount of capital gains arising from the transfer of the original asset not charged under section 45 on the basis of the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relation to any long-term specified asset, means the amount invested in such specified asset out of capital gains received or accruing as a result of the transfer of the original asset; (b) "long-term specified asset" means a unit or units, issued before the 1st day of April, 2019, of such fund as may be notified by the Central Government in this behalf.] ************** Notes:- 1. Inserted vi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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