Is there a way to save capital gain tax on transfer of long-term capital assets?
Where the capital gain arises from the transfer of a long-term capital asset (original asset) and the assessee has, at any time within a period of six months after the date of such transfer, invested the whole or any part of capital gains in the long-term specified asset (LTSA), the capital gain tax can be saved as follows: If the cost of LTSA >= capital gain arising from the transfer of the original asset – the whole of such capital gain shall not be taxed; If the cost of LTSA < capital gain arising from the transfer of the original asset - capital gain x (capital gain/cost of acquisition of LTSA) shall not taxed. Now if LTSA is transferred or converted (otherwise than by transfer) into money at any time within a period of three years from the date of its acquisition, the amount of capital gains arising from the transfer of the original asset not charged to capital gain tax u/s 45 shall be deemed to be the income chargeable as capital gains In a case where the original asset is transf
