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of <h1>Capital gains exemption under Section 54GB for reinvestment in eligible company buying new plant and machinery and five-year clawback</h1> Where a long-term residential property owned by an eligible assessee is sold and the net sale consideration is invested by the assessee in equity of an eligible company which within one year applies those funds to buy new plant and machinery, capital gains are exempted either fully or proportionately based on the cost of the new asset relative to net consideration. Unutilised proceeds must be deposited by the company in a notified account; failure to utilise within the year triggers charging of the appropriate portion of gain. A five-year clawback applies if the shares or new asset are sold earlier (three years for certain start-ups/ computers). Eligibility and asset exclusions are specified; temporal limits apply.
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