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Capital Gains Exemption Chart

This document outlines the capital gains tax exemption rules under various sections of the Indian Income Tax Act. It provides details on the eligibility, assets that can be transferred, required holding periods, conditions on reinvestment of sale proceeds and consequences of non-compliance for several tax exemption provisions. Key sections covered include 54, 54B, 54EC, 54D, 54F and 54G which provide exemptions for capital gains reinvested in residential houses, agricultural land, specified bonds, industrial plants and more. The chart specifies the assessment year, eligible taxpayers, qualifying assets and timelines to claim exemptions under these sections.

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Pranay Kothari
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6K views

Capital Gains Exemption Chart

This document outlines the capital gains tax exemption rules under various sections of the Indian Income Tax Act. It provides details on the eligibility, assets that can be transferred, required holding periods, conditions on reinvestment of sale proceeds and consequences of non-compliance for several tax exemption provisions. Key sections covered include 54, 54B, 54EC, 54D, 54F and 54G which provide exemptions for capital gains reinvested in residential houses, agricultural land, specified bonds, industrial plants and more. The chart specifies the assessment year, eligible taxpayers, qualifying assets and timelines to claim exemptions under these sections.

Uploaded by

Pranay Kothari
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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CAPITAL GAINS EXEMPTION CHART

Particulars 1 Who is the assessee Qualifying for the Benefit ? What should be the asset transferred ? Section 54 Individual Or HUF Section 54 B Individual Section 54 EC Any Person. Section 54 D Any Person. Section 54 G Any Person. Section 54 GA Any Person. Section 54 F Individual or HUF.

Residential House

Urban Agricultural Land

Any Asset.

Land & Building forming part of Industrial undertaking.

Land,Building, Plant Land,Building, Plant & Machinery & Machinery forming part of forming part of Industrial Industrial undertaking. undertaking. No Condition -----

Any Asset (Other then Residential House). Transfer Of Long Term Capital Asset (LTCA).

What is the Holding Period of the transferred asset ?

Transfer Of Long Term Capital Asset (LTCA).

2 years usage. (STCA/LTCA) Land should be used for agricultural purposes by assessee or his parents.

Transfer Of Long Term Capital Asset (LTCA).

2 years usage

Any Other Consideration ?

No

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The Undertaking It should be subject must be located in matter of urban area and now compulsory being shifted to rural acquisition. area. Land & Building forming part of Industrial undertaking. 3 Years After. Land,Building, Plant & Machinery forming part of Industrial undertaking. 1 year before or 3 years after. 1 year before or 3 years after.

Shifting to Special Economic Zone.

Prov. 1 to 54 F(1) 54F(2)

Where should assessee invest monies ? What is the time limit for acquisition ? What is the time limit for Construction ?

A Residential house.

Agricultural Land. (Urban or Rural)

Specified Bonds. (redeemable after 3 years).

Similar Assets in special economic zone. 1 year before or 3 years after. 1 year before or 3 years after.

Residential House.

1 year before or 2 years after. 3 years after

2 years after.

6 months after.

1 year before or 2 years after. 3 years after

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3 Years After.

CAPITAL GAINS EXEMPTION CHART


Particulars What is the amount of Investment ? What is the Holding Period of the New Asset ? What if there is Violation in Holding Period ? Which will be the year of consequence ? Is 54 H Applicable ? Is Capital Gain Scheme 1988 applicable ? Section 54 Section 54 B Section 54 EC Capital Gains. (investment in bond does not exceed 50 lakhs in one financial year) 3 years from the Date of Acquisition. Section 54 D Section 54 G Section 54 GA Section 54 F

Capital Gains

Capital Gains

Capital Gains

Capital Gains

Capital Gains

Net Consideration

3 years from the Date of Acquisition. Cost(of New Asset) to be reduced by exemption claimed earlier. -----Yes Yes

3 years from the Date of Acquisition. Cost(of New Asset) to be reduced by exemption claimed earlier. -----Yes Yes

3 years from the Date of Acquisition. Cost(of New Asset) to be reduced by exemption claimed earlier. -----Yes Yes

3 years from the Date of Acquisition. Cost(of New Asset) to be reduced by exemption claimed earlier. -----No Yes

3 years from the Date of Acquisition. Cost(of New Asset) to be reduced by exemption claimed earlier. -----No Yes

3 years from the Date of Acquisition.

10

Deemed Capital Gains

Deemed Capital Gains

11 12 13

Year of Violation Yes No

Year of Violation Yes Yes

Section 115F Non Resident Indian.

Foreign Exchange Asset.

Transfer Of Long Term Capital Asset (LTCA).

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Specified Asset.

6 months after.

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Section 115F

Net Consideration

3 years from the Date of Acquisition. Deemed Capital Gains

Year of Violation No No

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