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[Cites 0, Cited by 0] [Section 85(1)] [Section 85] [Entire Act]

Union of India - Subsection

Section 85(1)(b) in The Income Tax Act, 2025

(b)within six months after the date of such transfer, invested whole or part of the capital gains in a long-term specified asset (new asset), then, the capital gains shall be dealt with as follows:—
(i)if the capital gains exceed the investment in the new asset, the amount of capital gains as exceeds such investment shall be charged under section 67; or
(ii)if the capital gains is equal to or less than the investment in the new asset, the whole of such capital gains shall not be charged under section 67.