Rollover relief for investment assets permits deduction from capital gains when reinvested in specified new assets, subject to timing conditions. Rollover relief allows an individual or HUF to deduct from capital gains an amount proportionate to reinvestment in a prescribed new asset or deposits under the Capital Gains Deposit Scheme, calculated by a specified formula and capped by the capital gain. Deposited amounts must be applied to purchase or construction within defined short and three-year utilisation periods. Relief is available where the new asset corresponds to the original asset class (agricultural land or residential house) and subject to ownership, prior holding and post-acquisition transfer restrictions.
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.
Provisions expressly mentioned in the judgment/order text.
Rollover relief for investment assets permits deduction from capital gains when reinvested in specified new assets, subject to timing conditions.
Rollover relief allows an individual or HUF to deduct from capital gains an amount proportionate to reinvestment in a prescribed new asset or deposits under the Capital Gains Deposit Scheme, calculated by a specified formula and capped by the capital gain. Deposited amounts must be applied to purchase or construction within defined short and three-year utilisation periods. Relief is available where the new asset corresponds to the original asset class (agricultural land or residential house) and subject to ownership, prior holding and post-acquisition transfer restrictions.
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