Section 341(9)(b) in The Income Tax Act, 2025

[Cites 0, Cited by 0] [Section 341(9)] [Section 341] [Entire Act]

Union of India - Subsection

Section 341(9)(b) in The Income Tax Act, 2025

(b)the appropriate fraction of the capital gain arising from the transfer of a capital asset, being property held under trust in part for charitable or religious purposes, where the whole or any part of the net consideration is utilised for acquiring another capital asset to be so held,—

(i)if the cost of acquisition of the new capital asset acquired is not less than the net consideration in respect of the capital asset transferred, the whole of appropriate fraction of such capital gain;

(ii)in any other case, so much of the appropriate fraction of the capital gain as is equal to the amount, if any, by which the appropriate fraction of the amount utilised for acquiring the new asset exceeds the appropriate fraction of the cost of the transferred asset.

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Union of India - Subsection

Section 341(9)(b) in The Income Tax Act, 2025