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Capital Gain On Transfer Of Assets In Cases Of Shifting Of Industrial Undertaking From The Urban Area To Any Special Economic Zone - Sec. 54GA

Income Tax - Capital Gains - Specific Exemptions - 07 - SECTION 54GA: CAPITAL GAIN ON TRANSFER OF ASSETS IN CASES OF SHIFTING OF INDUSTRIAL UNDERTAKING FROM THE URBAN AREA TO ANY SPECIAL ECONOMIC ZONE NATURE Transfer of asset being plant, machinery, .....

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shifting the undertaking from an urban area to any special economic zone The capital gain is utilised 1 year before or 3 years after date of transfer for the specified purpose which includes:- Purchased new plant/ machinery and Acquired building or l .....

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3 years from the date of its acquisition. AMOUNT OF EXEMPTION If capital gain < amount invested = full amount If capital gain > amount invested = difference is taxable In other words capital gain shall be exempt to the extent it is spent for th .....

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