Sec54gb
This query is : Resolved
10 January 2014
what is that you dont understand in this section. It applies to assessees who own more than 51% of the shares or has more than 51% voting rights in a company involved in manufacturing and is a small or medium enterprise as per MSME Act, 2006.
if such an assessee sells a residential property (held for more than 36 months), he can claim exemption from capital gains by investing net consideration in equity of such company before the due date of filing return under 139(1) and provided that the said company utilize this money for purchasing new assets...
thats 54gb for you.
if such an assessee sells a residential property (held for more than 36 months), he can claim exemption from capital gains by investing net consideration in equity of such company before the due date of filing return under 139(1) and provided that the said company utilize this money for purchasing new assets...
thats 54gb for you.
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