Capital gains exemption: omission of subsection under section 54EA removes a consequential provision for investments in specified securities. The Bill omits sub section (3) of section 54EA of the Income tax Act-an amendment described as consequential to the omission of section 88-thereby removing the redundant provision related to non taxation of capital gains on reinvestment in specified securities. The amendment takes effect from 1st April, 2023.
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: omission of subsection under section 54EA removes a consequential provision for investments in specified securities.
The Bill omits sub section (3) of section 54EA of the Income tax Act-an amendment described as consequential to the omission of section 88-thereby removing the redundant provision related to non taxation of capital gains on reinvestment in specified securities. The amendment takes effect from 1st April, 2023.
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