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Capital gain not to be charged on investment in units of a specified fund.

Section 54EE - Act - Part E. - Capital gains - Income Tax - Section 54EE - [ 54EE. (1) Where the capital gain arises from the transfer of a long-term capital asset (herein in this section referred to as the original asset) and the assessee has, at an .....

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namely:- (a) if the cost of the long-term specified asset is not less than the capital gain arising from the transfer of the original asset, the whole of such capital gain shall not be charged under section 45; (b) if the cost of the long-term specif .....

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e whole of the capital gain, shall not be charged under section 45: Provided that the investment made on or after the 1st day of April, 2016, in the long-term specified asset by an assessee during any financial year does not exceed fifty lakh rupees: .....

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nd in the subsequent financial year does not exceed fifty lakh rupees. (2) Where the long-term specified asset is transferred by the assessee at any time within a period of three years from the date of its acquisition, the amount of capital gains ari .....

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geable under the head Capital gains relating to long-term capital asset of the previous year in which the long-term specified asset is transferred. Explanation 1.-In a case where the original asset is transferred and the assessee invests the whole or .....

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