Capital gains exemption for industrial relocation: reinvestment in new assets prevents taxation if used within the specified period. Exemption applies where capital gains from transfer of industrial assets on relocation from an urban area are applied to purchase new plant or premises, ... Summary
Capital gains exemption for industrial relocation: reinvestment in new assets prevents taxation if used within the specified period.
Exemption applies where capital gains from transfer of industrial assets on relocation from an urban area are applied to purchase new plant or premises, shift assets, or incur scheme specified expenses in the new area within the prescribed period; reinvested amounts reduce or eliminate taxable capital gain and are treated as cost of the new asset, with unutilised amounts required to be deposited in a specified bank and taxed if not utilised within the prescribed period.
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