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Exemption claim u/s 54

Others 298 views 3 replies
if we received ltcg from sale of mutual fund and then invest this amount in purchasing another mutual funds within 01 year , then am I eligible for claiming exemption u/s 54 ON THIS BASIS while filing my ITR?
SOMEBODY GIVE EXPLANATION.
Replies (3)

No. Not eligible.

 

I think exemptionncan be claim via section 54EA of IT ACT 1961.
Somebody clarify me in this regard as soon as possible
thanks in advance...
Govt amended section 54EC by restricting its scope only to capital gains arising from long-term capital assets, being land or building or both.
This amendment will take effect, from 1st April, 2019 and will, accordingly, apply in relation to the assessment year 2019-20 and subsequent assessment years.


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