Advertisement


0
Capital Gains Exemption on investment in Specified Bonds

Accordingly, It is proposed to insert a proviso in Sub-Section (1) so as to provide that the investment made by an assessee in the long term specified asset, out of capital gains arising from transfer of one or more original asset, during the financial year in which the original asset or assets are transferred and in the subsequent financial year does not exceed fifty lac rupees.

This amendmend will effect from 1st April, 2015 and will accordingly apply in relation to assessment year 2015-16 and subsequent years.


In section 54EC, in Sub-Section (1), after the proviso, the following proviso shall be inserted with effect from the 1st day of April, 2015, namely:-

"Provided further that the investment made by an assessee in the long term specified asset, from capital gains arising from transfer of one or more original assets, during the financial year in which the original asset or assets are transferred and in the subsequent financial year does not exceed fifty lac rupees".

Post a Comment

Dear readers, after reading the Content please ask for advice and to provide constructive feedback Please Write Relevant Comment with Polite Language.Your comments inspired me to continue blogging. Your opinion much more valuable to me. Thank you.