Budget 2019: Sitharaman extends capital gains benefits for entrepreneurs

Entrepreneurs who plan to sell their houses to fund their start-ups will remain shielded from paying tax on the gains made through sale of the property. Finance Minister Nirmala Sitharaman on Thursday announced an extension of benefits provided under Section 54GB of the Income-Tax Act for a period of two years.

The government had introduced Section 54GB in FY13 wherein if an individual sold his/her house and invested the entire proceeds (not just the gains) in a start-up, he/she would not require to pay any capital gains tax. The benefit extended under this Section was earlier available only until March 31,