Web[Section 54G] : Capital Gain on Shifting of Industrial Undertaking from Urban Areas to Non-Urban Areas The Provisions of Section 54G towards Exemption of Capital Gains on Shifting of Industrial Undertaking from … WebTransfer of income where there is no transfer of assets All income arising to any person by virtue of a transfer whether revocable or not and whether effected before or after the commencement of this Act shall, where there is no transfer of the assets from which the income arises, be chargeable to income- tax as the income of the transferor and …

Insertion of new section 54GB - incometaxindia.gov.in

WebAfter section 54GA of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2013, namely:— '54GB. Capital gain on transfer of residential … WebSection-54GA : If the new asset is transferred within 3 years of its acquisition . Q9. When the exemption is revoked it is taxable in the year in which the default is committed. What will … cedar creek reservoir

Section 54GA of Income Tax Act for AY 2024-24 – AUBSP

On satisfying all the prescribed criteria’s, the claimant would be eligible for lower of the following amount as an exemption under section 54GA – 1. An amount invested into land or building or plant or machinery for shifting of industrial undertaking from an urban area to Special Economic Zone; or 2. An amount of … See more The following table briefly summarizes the conditions which the claimant needs to satisfy for claiming exemption under section 54GA of the Income Tax Act– See more Provisions of section 54GA restrict the claimant from transferring the newly acquired assets for a period of three years. Still, if the claimant transfers the newly … See more The provisions of section 54GA allow the claimant to re-invest the capital gain amount until the period of three years after the date of transfer. However, if the … See more Web1 Sep 2024 · Exemption under section 10 of the Income Tax Act : Capital Gain arising on transfer of a unit of Unit Scheme, 1964 is exempted u/s 10(38). Although, in the Finance Act, 2024, Section 10(38) has been withdrawn and new section 112A is inserted which states that LTCG on equity shares or mutual funds or units of business trust shall be taxed @ … Web17 Mar 2024 · Section 54G of the Income Tax Act provides exemption towards capital gain arisen on the transfer of capital assets like plant or machinery or land or building which … butter people youtube