Exemption under section 54G on fulfilling of specified conditions is available on:

CS Executive · Tax Laws and Practice · PYQS · June 2019
Exemption under section 54G on fulfilling of specified conditions is available on:
(A) Shifting of industrial undertaking from urban area to a Special Economic Zone (SEZ)
(B) Shifting of industrial undertaking from urban Area by government
(C) Compulsory acquisition of land and building
(D) Transfer of certain capital assets as specified

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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