Capital gains exemption eligibility expanded to include Hindu Undivided Families and parents, widening qualifying assessees. The amendment substitutes the phrase referring to "the assessee or a parent of his" with wording specifying "the assessee being an individual or his ... Summary
Capital gains exemption eligibility expanded to include Hindu Undivided Families and parents, widening qualifying assessees.
The amendment substitutes the phrase referring to "the assessee or a parent of his" with wording specifying "the assessee being an individual or his parent, or a Hindu undivided family," thereby expanding the class of taxpayers eligible for the capital gains reinvestment exemption and clarifying statutory entitlement.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
