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Which Specific Asset is eligible for Exemption under these Sections 54, 54B, 54D, 54EC, 54F, 54G, 54GA and 54H ?

Section-54                :           A Residential House Property

Section-54B             :          

Agricultural land if it was used by the individual or his parents for agricultural purposes for at least 2 years immediately prior to transfer

Section-54D             :          

Land or building forming part of an industrial undertaking which is compulsorily acquired by the Government and which is used for 2 years for industrial purposes prior to its acquisition

Section-54EC           :           Any long-term capital asset

Section-54F              :          

Any long- term capital asset (other than a residential house property) provided on the date of transfer the taxpayer does not own more than one residential house property’ (except the new house as stated in 4 infra).

Section-54G             :          

Land, building plant or machinery in order to shift an industrial undertaking from urban area to rural area.

Section-54GA          :          

Land, building, plant or machinery in order to shift an Industrial undertaking from urban area to any special economic zone

 



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