anita (trainee) (514 Points)
19 December 2022A private limited company has sold an industrial land held in its name (purchased as an investment). It was bought on 1.10.2019. Will it get the benefit of indexation as the land was held for more than 2 years?
the company wants to invest the proceeds in another industrial land or shed will it exemption in capital gains? which other investment can make it get exemption in capital gains?
CA Rakesh Ishi
(Working at Private Company)
(7995 Points)
Replied 20 December 2022
The company can claim indexation benefit but cannot claim exemption under section 54.
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 20 December 2022
Check if you can apply benefit of section 54G of the Income Tax Act
CAclubindia
