Capital gain
This query is : Resolved
09 May 2012
plz tell me about sec. 54EC. Nd what circumstance when we get exemption of RS ONE CRORE
10 May 2012
you have to invest in NHAI or REC bonds subject to limit of Rs. 50 lakhs in one financial year and it should be made within 6 months of tranfer.
now if you want to claim 1 crore
EX: sell it in march 1st week and invest 50 lakhs till march 31 St and the balance in next financial year therefore both the conditions are satisfied.
you have to invest in NHAI or REC bonds subject to limit of Rs. 50 lakhs in one financial year and it should be made within 6 months of tranfer.
now if you want to claim 1 crore
EX: sell it in march 1st week and invest 50 lakhs till march 31 St and the balance in next financial year therefore both the conditions are satisfied.
Message likes :
1 times
10 May 2012
Agree with Ms. Shilpa.
Time limit is within 6 month. So you can sell/transfer property from November to March month and invest 50 lacs in same year and another 50 lacs within 6 months from the date of transfer of property.
Time limit is within 6 month. So you can sell/transfer property from November to March month and invest 50 lacs in same year and another 50 lacs within 6 months from the date of transfer of property.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Reporting of STCG on Property in ITR
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
