TMI BlogRelief for follover of investment asset.X X X X Extracts X X X X X X X X Extracts X X X X ..... asset in accordance with the provisions of this section. (2) The deduction referred to in sub-section (1) shall be computed in accordance with the formula— A x (B+C+D)/E Where A = the amount of capital gains arising from the transfer of the original investment asset; B = the amount invested for purchase or construction of the new ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r of the original investment asset. (3) The deduction computed under sub-section (2) shall not exceed the amount of capital gains arising from the transfer of the investment assets. (4) Any amount withdrawn from an account under the Capital Gains Deposit Scheme shall be utilised within a period of one month from the end of the month in which the amount is withdrawn, for the purpose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment asset Description of the new investment asset Conditions (1) (2) (3) (4) 1. Agricultural land One or more pieces of agricultural land (1) The original investment. asset was- (i) an agricultural land during two years immediately preceding the financial year in which the asset is transferred; and (ii) acquired at least one year be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on" means the full value of consideration received or accruing as a result of the transfer of an investment asset as reduced by any expenditure incurred wholly or exclusively in connection with such transfer. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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