May 7, 2023

Capital gain on transfer of capital assets not to be charged in certain cases. (1) Where the capital gain arises from the transfer of a long-term capital asset before the 1st day of April, 1992, (the capital asset so transferred being hereafter in this section referred to as the original asset) and the assessee has, within a period of six months after the date of such transfer, invested or deposited the whole or any part of the net consideration in any specified asset (such specified asset being hereafter in this section referred to as the new asset), the capital gain shall be dealt with in accordance with the following provisions of this section, that is to say,— (a) if the cost of the new asset is not less than the net consideration in respect of the original asset, the whole of such capital gain shall not be charged under section 45; (b) if the cost of the new asset is less than the net consideration in respect of the original asset, so much of the capital gain as bears to the whole of the capital gain the same proportion as the cost of acquisition of the new asset bears to the net consideration shall not be charged under section 45: Provided that in a case where the original asset is transferred after the 28th day of February, 1983, the provisions of this sub-section shall not apply unless the assessee has invested or deposited the whole or, as the case may be, any part of the net consideration in the new asset by initially subscribing to such new asset: Provided further that in a case where the transfer of the original asset is by way of compulsory acquisition under any law and the full amount of compensation awarded for such acquisition is not received by the assessee on the date of such transfer, the period of six months referred to in this sub-section shall, in relation to so much of such compensation as is not received on the date of the transfer, be reckoned from the date immediately following the date on which such compensation is received by the assessee or the 31st day of March, 1992, whichever is earlier. Explanation 1.—For the purposes of this sub-section, “specified asset” means,— (a) in a case where the original asset is transferred before the 1st day of March, 1979, any of the following assets, namely:— (i) securities of the Central Government or a State Government; (ii) savings certificates as defined in clause (c) of section 2 of the Government Savings Certificates Act, 1959 (46 of 1959); (iii) units in the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963); (iv) debentures specified by the Central Government for the purposes of clause (ii) of sub-section (1) of section 80L; (v) shares in any Indian company which are issued to the public or are listed in a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956), and any rules made thereunder, where the investment in such shares is made before the 1st day of March, 1978; (va) equity shares forming part of any eligible issue of capital, where the investment in such shares is made after the 28th day of February, 1978; (vi) deposits for a period of not less than three years with the State Bank of India established under the State Bank of India Act, 1955 (23 of 1955), or any subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959) or any nationalised bank, that is to say, any corresponding new bank, constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or any co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank or a co-operative land development bank); (b) in a case where the original asset is transferred after the 28th day of February, 1979 but before the 1st day of March, 1983, such National Rural Development Bonds as the Central Government may notify in this behalf in the Official Gazette; (c) in a case where the original asset is transferred after the 28th day of February, 1983 but before the 1st day of April, 1986, any of the following assets, namely :— (i) securities of the Central Government which that Government may, by notification in the Official Gazette, specify in this behalf; (ii) special series of units of the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963), which the Central Government may, by notification in the Official Gazette, specify in this behalf; (iii) such National Rural Development Bonds as have been notified under clause (b) of Explanation 1 or as may be notified in this behalf under this clause by the Central Government; (iv) such debentures issued by the Housing and Urban Development Corporation Limited [a 12Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956)], as the Central Government may, by notification in the Official Gazette, specify in this behalf; (d) in a case where the original asset is transferred after the 31st day of March, 1986, any of the assets specified in clause (c) and such bonds issued by any public sector company, as the Central Government may, by notification in the Official Gazette, specify in this behalf; (e) in a case where the original asset is transferred after the 31st day of March, 1989, any of the assets specified in clauses (c) and (d) and such debentures or bonds issued by the National Housing Bank established under section 3 of the National Housing Bank Act, 1987 (53 of 1987), as the Central Government may, by notification in the Official Gazette, specify in this behalf. Explanation 2.—”Eligible issue of capital” shall have the meaning assigned to it in sub-section (3) of section 80CC. Explanation 3.—An assessee shall not be deemed to have invested the whole or

Introduction In today’s digital world, businesses rely heavily on data management to operate efficiently. With the massive influx of data, it’s important to have a system in place that can quickly identify and organize it. This is where Bin View comes in. Bin View is a unique identification number that is assigned to each book in a library or inventory management system. The purpose of Bin View is to facilitate the organization, storage, and retrieval of data efficiently. In this article, we will delve into everything you need to know about Bin View. What is Bin View? Bin View is a unique identification number that is assigned to each book in a library or inventory management system. This number is used to identify and organize books, making it easier for librarians, inventory managers, and other professionals to locate specific books quickly. The Bin View Identification Number (BIN) consists of a combination of letters and numbers that are unique to each book View Book Identification Number (BIN) The View Book Identification Number (BIN) is a unique code assigned to each book in a library or inventory management system. It consists of a combination of letters and numbers that are used to identify and organize books. The BIN is an essential component of the Bin View system, and without it, the system would not function correctly. Each BIN is unique and can only be assigned to one book at a time. When is BIN generated? The BIN is generated when a new book is added to the library or inventory management system. When a book is acquired, it is assigned a BIN, and this number is used to identify and organize the book. The BIN is usually generated automatically by the system, but in some cases, it may be assigned manually. Consequences of non-quoting BIN Not quoting the correct BIN can result in severe consequences for the library or inventory management system. If a book is not assigned a BIN, it can be challenging to locate it, resulting in a loss of time and money for the library or inventory management system. Additionally, if the wrong BIN is quoted, it can result in the misplacement of the book, making it difficult to locate. BIN Verification BIN Verification is the process of confirming that the BIN quoted for a book is correct. This process is essential for maintaining the accuracy and integrity of the Bin View system. The verification process involves cross-checking the BIN quoted with the book’s information in the library or inventory management system. If the BIN quoted is incorrect, it must be corrected immediately to avoid any potential consequences. Access the TIN portal Step 1: The user has to visit the official site of the TIN portal to view/ download the Book Identification Number (BIN) Details. Step 2: Click on the BIN verification link on the portal, the user will be guided through the following pages where BIN will be verified. Step 3: The user has to complete all the following details: TAN Number Nature of Payment. AIN/ Treasury Number. The period for which the user has to view their BIN(Date). Captcha text image. Different types of options will be available in the section “Nature of Payment”. Here, the user needs to select a suitable form type from the dropdown menu for which the user needs to view/verify their BIN details The user has to click on the “View BIN details” icon. Step 4: Once the above step is completed, the user will be moved to the following BIN verification page. Here, the user needs to enter the following details: BIN Amount (enter the amount in the suitable place corresponding to that Receipt Number & DDO serial number). Check the Boxes The user has to click on the “Verify Amount’ icon. Step 5: The user can view their BIN verification status as it will be displayed on the screen. BIN Verification Status The BIN Verification Status indicates whether the BIN quoted for a book is correct or not. If the BIN Verification Status is “verified,” it means that the BIN quoted is correct, and the book is correctly identified and organized in the library or inventory management system. If the BIN Verification Status is “unverified,” it means that the BIN quoted is incorrect, and the book is not correctly identified and organized. In this case, the BIN must be corrected immediately to avoid any potential consequences. FAQs Q: Is it possible to change a book’s BIN after it has been assigned? A: Yes, it is possible to change a book’s BIN after it has been assigned. However, this should only be done in exceptional circumstances, and the change should be recorded in the library or inventory management system to maintain the system’s accuracy. Q: How many characters are in a BIN? A: The number of characters in a BIN varies depending on the library or inventory management system. However, most BINs consist of a combination of letters and numbers. Benefits of using Bin View There are several benefits to using Bin View in a library or inventory management system. Some of these benefits include: Efficient organization: Bin View makes it easier to organize books and other items in a library or inventory management system. With the unique identification number, librarians and inventory managers can quickly locate specific items. Quick retrieval: With Bin View, retrieving books and other items from a library or inventory management system becomes faster and more efficient. The identification number makes it easy to locate and retrieve the item. Better inventory management: Bin View can help improve inventory management by making it easier to keep track of the items in the library or inventory management system. This makes it easier to identify lost or misplaced items and track usage. Increased accuracy: Bin View helps to ensure that the correct information is associated with each item in the library or inventory management system. This reduces the likelihood of errors in tracking or locating items. How to use Bin View Using Bin View is relatively

Tax credit certificate in relation to exports [Omitted by the Finance Act, 1990, w.e.f. 1-4-1990.]