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of <h1>Section 54EC: Reinvest long-term capital gains from land/building in notified bonds to claim tax exemption</h1> Where long-term capital gain arises from transfer of land or building, investment of whole or part of that gain within six months in prescribed long-term bonds (redeemable after three years, or five years for bonds issued on/after 01-04-2018, and as notified by the Central Government) exempts that proportion of the gain from tax: full if investment = gain, or proportionate if less. Aggregate investment from such gains is capped at Rs. 50 lakh in the relevant and subsequent financial year(s). If the bond is sold, converted, or charged as security within the specified period, the exempted amount becomes taxable as long-term capital gain.
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