AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
Capital gains not to be charged on investment in certain bonds.
X X X X Extracts X X X X
X X X X Extracts X X X X
....hs after the date of such transfer, invested whole or part of the capital gains in a long-term specified asset (new asset), then, the capital gains shall be dealt with as follows:- (i) if the capital gains exceed the investment in the new asset, the amount of capital gains as exceeds such investment shall be charged under section 67; or (ii) if the capital gains is equal to or....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n on the security of the new asset shall be regarded as transfer of the new asset on the date of such loan or advance. (5) Where the investment in the new asset has been taken into account for sub-section (1), no deduction under section 123 for any tax year shall be allowed for such investment. (6) In this section, "new asset" means any bond, redeemable after five years and as notified by th....