CG Exemption u/s 54, 54B, 54D, 54EC, 54F, 54G, 54GA TABLE

Under Section

Allowed Assessee

Conditions to be satisfied

Quantum of exemption

54

Individual/HUF

1. Transfer should be of a residential house

income of which is chargeable under thehead ‘Income from house property’.

2  It must be a long-term capital asset.

3. Purchase of another residential house should be within one year before or 2years after, or construction should be within three years after the date of transfer.

Actual amount invested in   new   asset   or  the capital gain whichever is less.

54B

Individual

1 Transfer should be of agricultural land.

2. It must have been used in the 2 years i mmediately   preceding   the   date   oftransfer for agricultural purposes eitherby the assessee or his parent.

3 Another agricultural  land  should  be purchased within 2 years after the date of transfer.

—do—

54D

Any assessee which is an industrial undertaking

1 There must be compulsory acquisition.

2.  The  property  compulsorily  acquired should be land and building forming part of an industrial undertaking.

3.     The asset must have been used in the 2years immediately preceding the date of transfer of the assessee for the purpose of the business of the undertaking.

4.     Within a period of 3 years after the date of compulsory acquisition any other land or building should be purchased or constructed for the use of existing or newly set up industrial undertaking.

Actual amount invested in new asset or the capital gain whichever is less.

54EC

Any assessee

1.     The asset transferred should be a long-

term capital asset

2.Within a period of 6 months after the date of transfer, the capital gain must he invested in the specified assets i.e. bonds redeemable after 3 years issued by NHAl or RECL.

Actual amount invested in new asset or the capital gain whichever is less.

However, maximum amount which can be invested in any financial year cannot exceed Rs. 50,00,000

5 4  F

Individual/HUF

1.     The asset transferred should be a long-

term capital asset, not being a residential house.

2. Within a period of I year before or 2 years after the date of transfer, a residential house should be purchased or constructed within a period of 3 years after the date of transfer.

3. The assessee should not own more than one residential house on the date of transfer.

4. The assessee should not within a period of one year purchase or should not within a period of 3 years construct any residential house other than the new asset.

If the cost of the new

residential house is not

less    than    the    net

consideration  then  the

whole of the capital gain.

Otherwise,

Ami. invested

ITCG x—————– :——-

Net consideration price

54G

Any assessee being an industrial undertaking

1 Machinery, plant, building, or land used

for  the   business   of  an   industrial undertaking situated in an urban area should have been transferred.

2.Transfer should be due to shifting to any area other than an urban area.

If the cost of the new assets and expenses incurred for shifting are greater than the capital gain, the whole of such capital gain. Otherwise capital gain to the extent

3.   Within a period of 1 year before or 3 years after the date of transfer purchased machinery, plant or acquired building or land   or   constructed   building   and completed shifting to the new area.

of the cost of the new asset.

54GA

Any assessee being an industrial undertaking

1. Machinery, plant, building, or land used

for the business of an industrial undertaking situated in an urban area should have been transferred.

2.Transfer should be due to shifting to any Special Economic Zone whether developed in any urban area or any other area.

3. Within a period of 1 year before or 3 years after the date of transfer purchased machinery, plant or acquired building or land   or   constructed   building   and completed shifting to the new area.

If the cost of the new assets and expenses incurred for shifting are greater than the capital gain, the whole of such capital gain. Otherwise capital gain to the extent of the cost of the new asset.