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of <h1>Tax Exemption on Capital Gains for Investing in Manufacturing SMEs Under Section 54GB: Key Conditions and Deadlines</h1> Section 54GB provides an exemption on capital gains from the transfer of residential property if the proceeds are invested in a new manufacturing SME company. The exemption applies to individuals or HUFs transferring long-term capital assets, such as houses or plots, by March 31, 2022. The investment must be in equity shares of an eligible company, which should be incorporated in India and engaged in manufacturing or eligible business. The company must utilize the investment to purchase new assets within a year. If shares or new assets are transferred within five years, the exempted gain becomes taxable. The scheme includes a capital gain deposit option and allows proportional exemptions based on investment.
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