Facts About 54 cash Revealed
Facts About 54 cash Revealed
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However, the exemption is matter to the capital acquire not exceeding Rs 2 crore. Also, the exemption is available only once in the lifetime of the seller.
The most important benefit of an asset being termed as a lengthy-time period funds asset is that the assessee is eligible for the good thing about indexation. What's more, sure exemptions are suitable only for lengthy-time period funds property.
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However, if the quantity deposited within the Funds Gains Account Plan is just not utilized within the closing date described, then it shall be treated as revenue from the earlier yr during which 3 many years expire (in the day of transfer of the first asset).
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The level of exemption underneath Area 54 of your Profits Tax Act to the extended-term funds gains will be the lessen of:
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