Capital gains

This query is : Resolved

AKKI SHARMA (Querist)
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28 May 2014 Sir,Ma'am ,

A party has sold gold as well as Listed bonds which attracts LTCG of Rs.275000 and Rs.12000 respectively and the person has investment in NHAI bonds of Rs.350000 during the year.
So can we take the rebate of this bonds to settle the LTCG.
Please answer my query ASAP.

Thanking you.

CA Nilesh P. Kanodia

CA Nilesh P. Kanodia (Expert)
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29 May 2014 Under section 50EC of Income Tax Act, Capital gain on transfer of long term capital asset not to be charged on investment in certain bonds with in a period of 6 months from the date of such transfer.

if whole sale consideration is invested in Bonds of NHAI then whole capital gain will be exempt other wise proportionately.

maximum amount can be invested in Bonds are 50 Lakhs in a financial year.