Capital gains exemption on reinvestment in specified fund units; proportionate relief and three-year lock in applies. Section 54EE provides exemption from tax on long-term capital gains invested in units of a government-notified specified fund within six months of transfer: the exempt amount equals the investment (or a proportionate part if investment is less than the gain), subject to an annual investment cap and issuance criteria. Transfers of the specified asset within three years or taking loans on its security trigger recapture, and 'cost' is the amount invested from capital gains.