TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Capital gains exempt when industrial assets shifted to SEZ if reinvested in plant, land, building, or scheme expenses within time</h1> Where capital gains arise from transfer of assets used by an industrial undertaking in an urban area effected due to shifting that undertaking to a Special Economic Zone, the taxpayer may claim exemption if, within one year before or three years after the transfer, they purchase plant or machinery, acquire or construct land or buildings, shift the original asset and transfer the establishment, or incur specified scheme expenses. If the capital gain exceeds the cost of such new assets, the excess is taxable; if it does not exceed such cost, the gain is exempt and the cost of the new asset is reduced by the gain. Unutilised amounts must be deposited under a notified scheme when filing the return and, if not applied within the prescribed period, will be taxed when the three-year period expires, though withdrawals permitted under the scheme.
TaxTMI 
TaxTMI 
