TMI BlogCapital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securitiesX X X X Extracts X X X X X X X X Extracts X X X X ..... f a long-term capital asset 3 [ before the 1st day of April, 2000 ] (the capital asset so transferred being hereafter in this section referred to as the original asset) and the assessee has, at any time within a period of six months after the date of such transfer, invested the whole or any part of the net consideration in any of the 4 [ bonds, debentures, shares of a public company or units ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8 [ specified securities ] bears to the net consideration shall not be charged under section 45. (2) Where the 9 [ specified securities ] are transferred or converted (otherwise than by transfer) into money at any time within a period of three years from the date of their acquisition, the amount of capital gain arising from the transfer of the original asset not charged under section 45 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the date on which such loan or advance is taken. 18 [****] ---------------------------------- Notes :- 1. Sections 54EA and 54EB inserted by the Finance (No. 2) Act, 1996, w.e.f. 1-10-1996. 2. Substituted for specified bonds or debentures by the Income-tax (Amendment) Act, 1997, w.r.e.f. 1-10-1996. 3. Inserted by the Finance Act, 2000, w.e.f. 1-4-200 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -10-1996. 11. Substituted by the Income-tax (Amendment) Act, 1997, w.r.e.f. 1-10-1996. 12. Substituted by the Income-tax (Amendment) Act, 1997, w.r.e.f. 1-10-1996. 13. Substituted by the Income-tax (Amendment) Act, 1997, w.r.e.f. 1-10-1996. 14. Substituted by the Income-tax (Amendment) Act, 1997, w.r.e.f. 1-10-1996. 15. Substituted by the Income-tax (Amendment) Act, 1997, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l asset ; ( b ) net consideration , in relation to the transfer of a capital asset, means the full value of the consideration received or accruing as a result of the transfer of the capital asset as reduced by the expenditure incurred wholly and exclusively in connection with such transfer. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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