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Capital Gains Exemption
Example: Suppose a long-term agricultural land is transferred by an individual on April 16, 2020Â
Then to claim exemption under this section assessee must:
Purchase another agricultural land within April 16, 2022
Example: Suppose a long-term land or building used in an industrial undertaking is compulsorily acquired on April 20, 2020 & compensation is received on September 15, 2020
Then to claim exemption under this section assessee must:
Purchase another land or building for the use of same purpose within September 15, 2023
Example: Suppose long term land or building or both is transferred by an assessee on April 5, 2020Â
Then to claim exemption under this section assessee must:
Invest in specified bonds within Oct 5, 2020
Example: Suppose a long-term capital asset is transferred on April 10, 2020Â
Then to claim exemption under this section assessee must:
Purchase: New house within April 10, 2019 before original transfer or within April 2022 after transfer
Construct: New house within April 10, 2023 after original transfer