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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 the maximum amount of exemption allowed under section 54G? |
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Ans. To claim the exemption, the capital gain must be used to purchase new plant or machinery, purchase or construct a building, shift the original asset and its establishment, or incur expenses on other purposes as specified in a scheme framed by the Central Government for this purpose. The specifics of how the capital gain is invested will vary depending on the type of new asset acquired or constructed. |
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