Section 86(1)(b) in The Income Tax Act, 2025

[Cites 0, Cited by 0] [Section 86(1)] [Section 86] [Entire Act]

Union of India - Subsection

Section 86(1)(b) in The Income Tax Act, 2025

(b)within one year before, or two years after, the date of such transfer, purchased, or has within three years after that date constructed, one residential house in India (new asset),then, the capital gains shall be dealt with as follows:—

(i)if the net consideration is more than the cost of the new asset, so much of the capital gains as bears to the whole of the capital gains, the same proportion as the cost of the new asset bears to the net consideration, shall not be charged under section 67; or

(ii)if the net consideration is equal to or less than the cost of the new asset, no capital gains shall be charged under section 67.

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Union of India - Subsection

Section 86(1)(b) in The Income Tax Act, 2025