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of <h1>Section 54GA: Tax Exemption on Capital Gains for Relocating Industry to SEZ with Investment Conditions</h1> Section 54GA of the Income Tax Act provides an exemption on capital gains arising from the transfer of assets when an industrial undertaking is shifted from an urban area to a Special Economic Zone (SEZ). This applies to both long-term and short-term capital assets, including plant, machinery, land, or buildings. The taxpayer must invest in new assets or incur specified expenses within one year before or three years after the transfer. The exemption is limited to the lower of the capital gains or the cost of new assets or deposit amount. If the new asset is transferred within three years, the cost is adjusted by the exemption amount.
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