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Income Tax - Frequently Asked Questions (FAQs) |
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FAQs on Exemption available from Capital gains |
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What is Section 54G of the Income Tax Act? |
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Ans. Section 54G provides exemption from capital gains arising from the transfer of assets in the course of shifting an industrial undertaking from an urban area to a non-urban area. The exemption is allowed if the amount of capital gains is invested in new machinery or plant in the area where the undertaking is shifted. |
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