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<h1>Capital gains exemption on shifting industrial undertakings to Special Economic Zones conditioned on reinvestment and notified deposit compliance.</h1> Exemption covers capital gains from transferring industrial assets in an urban area when shifting the undertaking to a Special Economic Zone, contingent on reinvestment in qualifying new assets, shifting of the establishment or specified scheme expenses. Excess gain over the cost of such new assets is taxable; if gain is equal to or less than the new asset cost the gain is exempt and the new asset cost is reduced. Unutilised amounts must be deposited in a notified account and treated as new asset cost, with unutilised deposits taxed when the utilisation period expires.
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