TMI BlogCapital gain on transfer of long-term capital assets not to be charged in certain casesX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 capital gains, in any of the assets specified by the Board in this behalf by notification in the Official Gazette (such assets hereafter in this section referred to as the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt invested in such specified asset out of capital gains received or accruing as a result of the transfer of the original asset. (2) Where the long-term specified asset is transferred or converted (otherwise than by transfer) into money at any time within a period of seven years from the date of its acquisition, the amount of capital gains arising from the transfer of the original asset not cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ified asset into money on the date on which such loan or advance is taken. 2 [ **** ]] -------------------------------- Notes :- 1. Inserted by the Finance Act, 2000, w.e.f. 1-4-2001. 2. Omitted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2023 before it was read as, (3) Where the cost of the long-term specified asset has been taken into a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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