Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Capital gains exemption on specified fund investment: invest in notified long term fund within six months to defer capital gains tax. Capital gains from transfer of a long term capital asset are not charged under section 45 to the extent invested in notified units of a specified long term fund within six months; full exclusion applies when investment cost equals or exceeds the capital gain, otherwise a proportionate exclusion applies, subject to an annual investment ceiling. If the specified asset is transferred within three years, the excluded amount is deemed capital gains in the year of transfer; taking a loan on the asset is a deemed transfer. 'Cost' means amount invested from capital gains and specified assets are notified fund units.
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 gains exemption on specified fund investment: invest in notified long term fund within six months to defer capital gains tax.
Capital gains from transfer of a long term capital asset are not charged under section 45 to the extent invested in notified units of a specified long term fund within six months; full exclusion applies when investment cost equals or exceeds the capital gain, otherwise a proportionate exclusion applies, subject to an annual investment ceiling. If the specified asset is transferred within three years, the excluded amount is deemed capital gains in the year of transfer; taking a loan on the asset is a deemed transfer. "Cost" means amount invested from capital gains and specified assets are notified fund units.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
