Income-tax Act, 1961
Section - 54GA - Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone
Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone.54GA. (1) Notwithstanding anything contained in section 54G, 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 to any Special Economic Zone, whether developed in any urban area or any other 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 machinery or plant for the purposes of business of the industrial undertaking in the Special Economic Zone to which the said undertaking is shifted; |
| (b) | - | acquired building or land or constructed building for the purposes of his business in the Special Economic Zone; |
| (c) | - | shifted the original asset and transferred the es .... To read the full section download the app from Google Play store
24 October 2026
CA Industrial TraineeFytomax Nutrition Private Limited Aurangabad CA Inter View Details
CCI
Pro
|
CAclubindia
