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of <h1>Amendment to Section 54EA: Omission of Sub-section (3) for Capital Gains Exemption on Long-term Assets from April 2023.</h1> Clause 26 of the Finance Bill, 2023, proposes an amendment to section 54EA of the Income-tax Act, which pertains to exempting capital gains on the transfer of long-term capital assets when invested in specified securities. The amendment involves the omission of sub-section (3) of section 54EA, a change necessitated by the prior removal of section 88. This amendment is set to take effect from April 1, 2023.
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