Relief for follover of investment asset.

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.... of the asset in accordance with the provisions of this section.       (2) The deduction referred to in sub-section (1) shall be computed in accordance with the formula—              A x (B+C+D)/E              Where     &....

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....bsp;   D = the amount deposited in an account in any bank by the end of the financial year in which the transfer of original investment asset is effected for six months from the date of transfer, whichever is later in accordance with the Capital Gains Deposit Scheme framed by the Central Government in this behalf;            &nbsp....

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....of the financial year in which the transfer of the original asset is effected.       (6) The deduction under this section in respect of capital gain arising from the transfer of an investment asset, specified in column (2) of the Table given below, shall be allowed with reference to the corresponding new investment asset referred to in column (3) of the said Table, subj....

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.... (i) the assessee does not own more than one residential house, other than the new investment asset, on the date of transfer of the original investment asset; and (ii) the original investment asset was acquired at least one year before the beginning of the financial year in which the transfer of the asset took place. (iii) the new asset shall not be transferred within one year from the end ....