23 December 2011
Whether capital arise on sale of industrial land would be exempted;if proceeds from such sales is invested in another industrial land or capital assets.Please solve my querry.
23 December 2011
Capital gain on sale of industrial land would be exempted, if such sale is because of shifting of industrial undertaking to area other than urban area or SEZ. refer section 54G and 54GA.
Exemption can be claimed by making investment in bonds u/s 54EC.
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