https://www.taxtmi.com/acts?id=49084 Non chargeability of capital gains applies when an individual or HUF transfers a long term capital asset other than a residential house and purchases or constructs a residential house in India within prescribed periods; gains are exempt to the extent the cost of the new house bears to the net consideration, or wholly exempt if the new house cost equals or exceeds net consideration. Unutilised gains must be deposited in a specified bank by the return filing due date and, if not applied within the allowed period, the exempt portion is restored to tax by a statutory formula; additional residential houses with taxable house property income and monetary ceilings limit the exemption. en-us Fri, 14 Feb 2025 16:45:27 +0530 Thu, 20 Feb 2025 12:15:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49084 Non chargeability of capital gains applies when an individual or HUF transfers a long term capital asset other than a residential house and purchases or constructs a residential house in India within prescribed periods; gains are exempt to the extent the cost of the new house bears to the net consideration, or wholly exempt if the new house cost equals or exceeds net consideration. Unutilised gains must be deposited in a specified bank by the return filing due date and, if not applied within the allowed period, the exempt portion is restored to tax by a statutory formula; additional residential houses with taxable house property income and monetary ceilings limit the exemption. Act-Rules Bills Fri, 14 Feb 2025 16:45:27 +0530 https://www.taxtmi.com/acts?id=49084