Exemption u/s 54EC
This query is : Open
16 December 2010
Dear Expert,
My assessee has sold long term capital asset on 10.06.2010, now he wants to invest in NHAI bonds eligible for Sec.54 EC , Now my query is time limit of 6 months for investment in said bonds is from date of transfer or date of month in which long term capital asset transfer? If it is from date of transfer,then can he still invest?
My assessee has sold long term capital asset on 10.06.2010, now he wants to invest in NHAI bonds eligible for Sec.54 EC , Now my query is time limit of 6 months for investment in said bonds is from date of transfer or date of month in which long term capital asset transfer? If it is from date of transfer,then can he still invest?
CA Ayush Agarwal
(Expert)
16 December 2010
Dear Jivan,
Section 54EC Clearly Specifies That Investment in NHAI,REC Bonds From Datre Of Transfer.
So In Your Case Invest Till 09/12/2010.
Hence If Invest Today i.e 16/12/2010 Then Not Eligible for Exemption U/S 54EC.
But I Suggest You to Investing in NHAI, If He Invest in Residential House Section 54 & Other Section of Exemption Then He May Benifitted.
Regards,
Ayush Agrawal
Section 54EC Clearly Specifies That Investment in NHAI,REC Bonds From Datre Of Transfer.
So In Your Case Invest Till 09/12/2010.
Hence If Invest Today i.e 16/12/2010 Then Not Eligible for Exemption U/S 54EC.
But I Suggest You to Investing in NHAI, If He Invest in Residential House Section 54 & Other Section of Exemption Then He May Benifitted.
Regards,
Ayush Agrawal
CA Manikandan.A.V
(Expert)
16 December 2010
Ayush is correct.
CA. Aryendra
(Expert)
16 December 2010
Date is: Ater the date of transfer.
Deduction would not be available u/s 54EC after the expiry of period
Deduction would not be available u/s 54EC after the expiry of period
17 December 2010
Assessee want to invest in Bonds only, and the delay is of only 7 days, can we justify the delay if he invest in 54EC bonds
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Tax on Amount transferred in HUF Account
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
