Exemption u/s 54gb

Tax queries 236 views 2 replies

ram

professional

24 Points Joined July 2019

hi,

isn't after budget 2019 exemption on LTCG from sale of residential property under section 54GB is exclusively for eligible "start-up" having certificate from inter ministerial board unlike before 2017 where MSME were also get the exemption under the act if they fulfill the condition or is it still available for both MSME & STARTUP it is worth analyzing considering very few start-up receive the certificate and govt want MSME to create jobs "its not kind of supportive" to SME.

looking forward for expert thought.

thanks

Replies (2)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

209841 Points Joined July 2016

It is very well centrally monitored and regularized, while through single MSME registration it was not possible.

ram

professional

24 Points Joined July 2019

i agree on centrally monitored and regularized but on one hand govt want to make policy and system with least govt interference and by making a committee which only meet occasionally and in past 4 years have provided certification to less then 100 startup.
it kind of defeat the purpose, most of them fail the criteria and or committee is not pleased enough, or frankly speaking not in the mood ( as told by one unsuccessful startup who at this point doing good ) mostly tech startup don't provide blue collar jobs which we all agree the need of the hour as govt can't farm loan waver for ever people from the rural side have to be mobilize to manufacturing center and given the technology of automation we have very little time.

sir as per rule registered company need to be created or created a year before transfer and equity share are to be allocated given the recent drastic and positive changes by MCA where compliance is stringent its not that hard to track them.

looking forward for you guidance

thanks