Section 54E of ITA, 1961 : Section 54E: Capital Gain On Transfer Of Capital Assets Not To Be Charged In Certain Cases
ITA, 1961
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Explanation using Example
Let's say Mrs. Gupta sold a piece of land on June 1, 1991, which she had held for more than three years, making it a long-term capital asset. The sale resulted in a capital gain of ₹10 lakh. To save on paying capital gains tax, she decides to invest in a new asset that qualifies under Section 54E of the Income-tax Act, 1961.
By November 30, 1991, Mrs. Gupta invests the entire ₹10 lakh in National Ru...
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