Capital gain not to be charged on investment in units of a specified fund - (Old) Section 54EE

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.... • There must be a transfer of a long-term capital asset (original asset). • The assessee must invest the capital gains in a long-term specified asset. • The investment must be made within six months from the date of transfer. Quantum of Exemption Full Exemption - Where Investment Equals or Exceeds Capital Gain If the amount invested in the long-term spe....

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....rawal of Exemption on Premature Transfer of Specified Asset [ Section 54EE(2) ]  • If the long-term specified asset is transferred within three years from date of its acquisition, the exemption earlier allowed under Section 54EE is withdrawn. • The exempted capital gain becomes taxable in the year in which the specified asset is transferred. • Deeme....