Income-tax Act, 1961
Section - 54G - Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area
Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area.54G. (1) Subject to the provisions of sub-section (2), where the capital gain arises from the transfer of a capital asset, being machinery or plant or building or land or any rights in building or land used for the purposes of the business of an industrial undertaking situate in an urban area, effected in the course of, or in consequence of, the shifting of such industrial undertaking (hereafter in this section referred to as the original asset) to any area (other than an urban area) and the assessee has within a period of one year before or three years after the date on which the transfer took place,-
| (a) | - | purchased new machinery or plant for the purposes of business of the industrial undertaking in the area to which the said undertaking is shifted ; |
| (b) | - | acquired building or land or constructed building for the purposes of his business in the said area ; |
| (c) | - | shifted the original asset and transferred the establishment of such undertaking to such .... To read the full section download the app from Google Play store
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30 June 2026
Article Assistant or Paid AssistantVIKAS VERMA & CO New Delhi Others View Details
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24 June 2026
ARTICLE ASSISTANTBHUPINDER SHAH AND COMPANY New Delhi CA Inter View Details |
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