Exemption under section 54, 54B, 54D, 54EC, 54F, 54G & 54GGA

CA Satish Agarwal 18 Feb 2022 28,932 Views 0 comment Print Income Tax | Articles

Taxation on Capital Gains in India

(Fy 31.03.2022/Ay 2022-23)

S. N.	Under the head	Section 54	Section 54B	Section 54D	Section 54EC	Section 54F	Section 54G	Section 54GA
1	Nature of Assesse	Individual / HUF ‘only’	Individual / HUF ‘only’	‘All’ assesses	All’ assesses	Individual / HUF ‘only’	‘All’ assesses	‘All’ assesses
2	Nature of capital gains as Short / Long term	Long term only	‘Short’ and Long term both	‘Short’ and Long term both	Long term only	Long term only	‘Short’ and Long term both	‘Short’ and Long term both
3	Nature of Assets Disposed	Residential House only	Agricultural Land as used by himself/ parent for last 2 years	Land and Building of industrial undertaking as Compulsory Acquired	Long term Capital Asset as ‘land’ or Building or both ‘Only’	‘Any’ Long term Capital Asset ‘other than’ ‘residential’ house	Land/ Building/ Plant/ Machinery under ‘Shifting’ of ‘industrial’ under-taking to ‘Rural’ area	Land/ Building / Plant/ Machinery under ‘Shifting’ of ‘industrial’ under-taking to ‘SEZ’ area
4	Nature of Asset to be Acquired	‘Residential’ House only	Agricultural Land only	Land/ Building for ‘Industrial’ purposes only	Bond of (a) ‘REC’ (b) ‘NHAI’ up to 50 lac only	1 ‘Residential’ House in ‘India’ only	Land/ Building/ Plant/ Machinery only	Land/ Building/ land/ Machinery only
5	Time for Acquiring New Assets	(i) Purchase ‘before’ 1 Year or ‘after’ 2 years or (ii) Construction ‘after’ 3 years of sale	Purchase within 2 years ‘after’ sale	Purchase within 3 years ‘after’ Compen-sation	Purchase within 6 months ‘after’ sale	(i) Purchase ‘before’ 1 year or ‘after’ 2 year or (ii) Construction ‘after’ 3 years of sale	Purchase ‘before’ 1 year or ‘after’ 3 years of transfer	Purchase ‘before’ 1 year or ‘after’ 3 years of transfer
6	Quantum of Exemption	Investment or Capital Gains Whichever is lower	Investment or Capital Gains whichever is lower	Investment or Capital Gains whichever is lower	Investment or Capital Gains whichever is lower	Investment or ‘sales Consideration’ whichever is lower	Investment or Capital Gains whichever is lower	Investment or Capital Gains whichever is lower
7	Period for Revocation of Exemption	Transferred within 3 years	Transferred within 3 years	Transferred within 3 years	Trans-ferred within 5 years	Transferred within 3 years	Trans-ferred within 3 years	Transferred within 3 years
8	Nature of Taxation against Revocation	‘Short’ term Capital Gains	‘Short’ term Capital Gains	‘Short’ term Capital Gains	‘Long’ term Capital Gains	‘Long’ term Capital Gains	‘Short’ term Capital Gains	‘Short’ term Capital Gains
9	Applica-bility of Scheme for deposit into Bank	YES	YES	YES	‘NO’	YES	YES	YES

*****

Exemption under section 54, 54B, 54D, 54EC, 54F, 54G & 54GGA

Disclaimer : The contents of this presentation are solely for informational purpose. Neither this presentation nor the information contained herein constitutes a contract or will form the basis of a contract. The material contained in this presentation does not constitute/substitute professional advice that may be required before acting on any matter. While every care has been taken in the preparation of this presentation to ensure its accuracy at the time of publication, Satish Agarwal assumes no responsibility for any errors which despite all precautions, may be found herein. In no event shall we be liable for direct or indirect or consequential damages, if any, arising out of or in any way connected with the use of this presentation or the information contained herein.

(Author can be reached at email address satishagarwal307@yahoo.com or on Mobile No. 9811081957)