Chapter XII-DASPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC )
Part CProcedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM )
Chapter XX-BREQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT )
Capital gains exemption for reinvestment in specified bonds: reinvest within six months to defer tax, subject to lock in and cap. Capital gains from transfer of a long term capital asset (land or building) are exempt from tax to the extent reinvested within six months in a long term ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Capital gains exemption for reinvestment in specified bonds: reinvest within six months to defer tax, subject to lock in and cap.
Capital gains from transfer of a long term capital asset (land or building) are exempt from tax to the extent reinvested within six months in a long term specified asset; full exemption applies if reinvestment equals or exceeds the gain, otherwise a proportional exemption applies. Exempt amounts are recaptured if the specified asset is transferred or converted into money within the statutory lock in period; loans on the asset are treated as conversion. The scheme is subject to statutory investment limits, ineligibility for certain deductions in respect of the invested amount, and a defined class of eligible bonds as notified by the government.
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