Capital gain exemption for reinvestment in specified fund units applies when proceeds are invested promptly and held for prescribed period. Capital gain from transfer of a long-term asset is not charged if whole or part of the gain is invested within six months in a long-term specified asset; full exclusion applies where the cost of that asset equals or exceeds the gain, otherwise a proportionate exclusion applies. Investments from capital gains across the transfer year and the subsequent year are capped at fifty lakh rupees. If the specified asset is transferred within three years, the previously uncharged gain is deemed taxable; taking a loan on the specified asset is treated as its transfer. 'Cost' means the amount invested out of capital gains.
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.
Capital gain exemption for reinvestment in specified fund units applies when proceeds are invested promptly and held for prescribed period.
Capital gain from transfer of a long-term asset is not charged if whole or part of the gain is invested within six months in a long-term specified asset; full exclusion applies where the cost of that asset equals or exceeds the gain, otherwise a proportionate exclusion applies. Investments from capital gains across the transfer year and the subsequent year are capped at fifty lakh rupees. If the specified asset is transferred within three years, the previously uncharged gain is deemed taxable; taking a loan on the specified asset is treated as its transfer. "Cost" means the amount invested out of capital gains.
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