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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 54EE: Tax Exemption on Capital Gains for Investments in Specified Funds, Subject to Conditions and Limits.</h1> Section 54EE of the Income-tax Act, introduced by Clause 31 of the Finance Bill, 2016, exempts capital gains tax on investments in specified funds. If an assessee invests capital gains from a long-term asset transfer into a specified fund within six months, the gains are not taxed, provided the investment doesn't exceed fifty lakh rupees annually. If the specified asset is sold within three years, the exempted gains become taxable. Investments made after April 1, 2016, are subject to these provisions, effective from April 1, 2017, for the assessment year 2017-18 and onwards.
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