Insertion of new section 54GB.

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....nbsp;        (ii)  the assessee, before the due date of furnishing of return of income under sub-section (1) of section 139, utilises the net consideration for subscription in the equity shares of an eligible company (herein referred to as the company); and            (iii) the company has, within one year from the date of subscription in equity shares by the assessee, utilised this amount for purchase of new asset, then, instead of the capital gain being charged to income-tax as the income of the previous year in which the transfer takes place, it shall be dealt with in accordance with the following provisions of this section, that is to say,- ....

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....if any, already utilised by the company for the purchase of the new asset together with the amount deposited under sub-section (2) shall be deemed to be the cost of the new asset:           Provided that if the amount so deposited is not utilised, wholly or partly, for the purchase of the new asset within the period specified in sub-section (1), then,-                    (i)  the amount by which-                 (a) the amount of capital gain arising from the transfer of the residential property not charged under section....

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....;   (5) The provisions of this section shall not apply to any transfer of residential property made after the 31st day of March, 2017.       (6) For the purposes of this section,-            (a)  "eligible assessee" means an individual or a Hindu undivided family;            (b)  "eligible company" means a company which fulfils the following conditions, namely:-                 (i)  it is a company incorporated in India during the period from the 1st day of April of the previous year relevant to the assessme....