https://www.taxtmi.com/acts?id=3622 Capital gains from transfer of a long-term asset are not charged to tax to the extent reinvested in notified long-term specified assets within the prescribed investment period; full exemption applies where the specified asset's cost equals or exceeds the gain, otherwise a prorated exemption applies. If the specified asset is sold or otherwise converted into money within the prescribed holding period, or if a loan is taken on its security, the previously exempted portion is deemed chargeable as long-term capital gain in the year of such event. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 11:31:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3622 Capital gains from transfer of a long-term asset are not charged to tax to the extent reinvested in notified long-term specified assets within the prescribed investment period; full exemption applies where the specified asset's cost equals or exceeds the gain, otherwise a prorated exemption applies. If the specified asset is sold or otherwise converted into money within the prescribed holding period, or if a loan is taken on its security, the previously exempted portion is deemed chargeable as long-term capital gain in the year of such event. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3622