|Applicabllity||Individual / HUF|
|Asset Transferred||Land and Building, Plant and Machinery used by Industrial undertaking and shifting of such undertaking from Urban area to Non-urban area|
|Nature of the Asset||Any Capital Asset|
|New Asset to be acquired||Land, Building, Plant and Machinery for Industrial Undertaking in Nonurban area or to meet the expenses of shifting|
|Amount to be invested in New Asset||Capital Gain on Transfer|
|Amount of Exemption||Least of – (a) Amount invested in New Land and Building or New Plant and Machinery, or|
(b) Capital Gain
|Time Limit for Investment||Within One Year prior to the date of transfer or within three years after the date of transfer|
|Unutllized Amount||(a)Amount not utilized before the due date of filing return shall be kept in Capital Gain Account Scheme of a Nationalized Bank.|
(b) The amount should be utilized within the prescribed period.
(c) Amount not utilized within the prescribed period shall be treated as LTCG of the previous year in which the prescribed period expires.
|Holding Period of New Asset||Three Years from the date of acquisition|
|Sale of New Asset within holding period||Short Term Capital Gain computed as follows:|
holding period Sale Consideration of New Asset
Less: Cost of Acquisition reduced by Capital Gains exempted u/s 54G