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of <h1>Tax Relief on Long-Term Capital Gains: Reinvest in Specified Funds Under Section 54EE for Exemption Benefits</h1> Section 54EE, introduced by the Finance Act, 2016, effective from April 1, 2017, provides tax relief on capital gains from the transfer of long-term assets if reinvested in specified funds within six months. If the reinvestment equals or exceeds the capital gain, the entire gain is exempt from tax. If less, the exemption is proportional. Investments per financial year cannot exceed fifty lakh rupees. If the specified asset is sold within three years, the previously exempted gain becomes taxable. Taking loans against the specified asset is treated as its transfer. The specified asset refers to units of government-notified funds issued before April 1, 2019.
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