Capital gains exemption for reinvestment into government specified long term assets facilitates funding for start ups under prescribed conditions. Section 54EE provides a capital gains exemption where proceeds from the transfer of long term capital assets are reinvested into government specified long term assets designated to fund start ups; qualifying reinvestment removes the corresponding long term capital gain from taxable income subject to the government's prescribed conditions.
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Provisions expressly mentioned in the judgment/order text.
Capital gains exemption for reinvestment into government specified long term assets facilitates funding for start ups under prescribed conditions.
Section 54EE provides a capital gains exemption where proceeds from the transfer of long term capital assets are reinvested into government specified long term assets designated to fund start ups; qualifying reinvestment removes the corresponding long term capital gain from taxable income subject to the government's prescribed conditions.
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