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

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..... essee 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 the long-term specified asset, the capital gain shall be dealt with in accordance with the following provisions of this section, namely:- (a) if the cost of the long-term specified asset is not less than the capital gain arising from the transfer of the origin .....

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..... during the financial year in which the original asset or assets are transferred and 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 arising from the transfer of the original asset not charged under se .....

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..... the purposes of this section,- (a) cost , in relation to any long-term specified asset, means the amount invested in such specified asset out of capital gains received or accruing as a result of the transfer of the original asset; (b) long-term specified asset means a unit or units, issued before the 1 st day of April, 2019, of such fund as may be notified by the Central Government in th .....

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