Capital gains exemption: omission of subsection under section 54EA removes a consequential provision for investments in specified securities. The Bill omits sub section (3) of section 54EA of the Income tax Act-an amendment described as consequential to the omission of section 88-thereby ... Summary
Capital gains exemption: omission of subsection under section 54EA removes a consequential provision for investments in specified securities.
The Bill omits sub section (3) of section 54EA of the Income tax Act-an amendment described as consequential to the omission of section 88-thereby removing the redundant provision related to non taxation of capital gains on reinvestment in specified securities. The amendment takes effect from 1st April, 2023.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.