Capital Gain Exempt from TAX Section 54D

1	Nature	Compulsory acquisition of land and building forming part of Industrial Undertaking
2	Available to	Any Assessee
3	Period held before transfer	More than 2 year (Thus can be Short Term or Long Term Assets)
4	Amount exemption of	If capital Gain <amount invested= full amount If capital Gain >amount invested=  Difference is taxable
5	Conditions	land and building forming part of Industrial Undertaking is transferred and Assessee has purchased/ Constructed land or building with in period of three years from date of compulsory acquisition. Newly acquired L &B to be used for industrial purposes i.e. shifting or re-establishing or setting up of another industrial undertaking. Should not be transferred for 3 years from the date of acquisition.
6	If amount not utilised till filling of return U/S 139(1)	Deposit in nationalized bank under the Capital Gain Deposit A/c Scheme
7	If Deposit not utilised	Unutilized amount taxable as CG (Long term or Short Term as the case may be) in the PY in which three years from the date of transfer of original asset expires.
8	Consequences of transfer before three years	The cost of the new assets shall be reduced by the amount of capital gains exempted earlier. Therefore amount of Capital gain exempted along with Capital Gains on sale of new property chargeable to tax in year of sale of property as STCG.