Section 85 — capital gains exemption via bonds (54EC)

In plain language

[DRAFT — needs review.] Section 85 (successor to Section 54EC) exempts long-term capital gains on transfer of land or building where the gain is invested in specified bonds within the prescribed period (traditionally six months), subject to a monetary ceiling.

Reviewer: confirm the eligible bonds, the ₹ ceiling and the lock-in period before publishing.