https://www.taxtmi.com/acts?id=3620 Capital gain from transfer of a long term capital asset is not charged if the assessee invests or deposits the whole or part of the net consideration in a specified asset within six months. If the new asset's cost equals or exceeds the net consideration, the entire gain is exempt; if less, exemption is proportionate to the cost. Deposits with banks/co operatives require a three year no loan declaration and an attested copy with the return and a post period certificate. If the new asset is transferred or converted into money within three years, the previously exempt amount is deemed long term capital gain. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 11:27:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3620 Capital gain from transfer of a long term capital asset is not charged if the assessee invests or deposits the whole or part of the net consideration in a specified asset within six months. If the new asset's cost equals or exceeds the net consideration, the entire gain is exempt; if less, exemption is proportionate to the cost. Deposits with banks/co operatives require a three year no loan declaration and an attested copy with the return and a post period certificate. If the new asset is transferred or converted into money within three years, the previously exempt amount is deemed long term capital gain. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3620