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of <h1>Exemption on Capital Gains: Invest in Equity Shares of Eligible Company Under Section 54GB for Tax Relief</h1> Section 54GB of the Income Tax Act offers an exemption on capital gains from selling long-term residential property, such as a house or plot of land. To qualify for this exemption, the taxpayer must invest the net proceeds in equity shares of an eligible company. The company must then utilize this investment to purchase new plant and machinery.
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