Insertion of New Section 54E

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....certain cases. - (1) Where the capital gain arises from the transfer of a capital asset; not being a short-term capital asset, (the capital assets so transferred being hereafter in this section referred to as the original asset) and the assessee has, within a period of six months after the date of such transfer, invested or deposited the full value of the consideration or any part thereof received....

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....h consideration shall not be charged under section 45. Explanation 1 : For the purposes of this sub-section, "specified asset" means any of the following assets, namely :- (i) securities of the Central Government or a State Government; (ii) savings certificates as defined in clause (c) of section 2 of the Government Savings Certificates Act, 1959; (46 of 1959). ....

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....k constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) or any co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank or a co-operative land development bank). Explanation 2 : "Cost" in relation to any new asset, being a deposit referred to in clause (vi) or Explanatio....