Investment in national highway bonds
This query is : Resolved
31 January 2015
i have made investment in national highway infra bond in my name of rs 500000 /- and of rs 500000/- in the name of my father by giving amount through my bank account whether that investment in the name of father will be eligible in my account
31 January 2015
In various judicial pronouncement it has been held that the investment u/s 54EC should be traceable to the capital assets sold and it will hardly matter that in whose name the bonds have been purchased. So your investment in name of your father through your bank account shall be allowed. Please refer ITO vs. Smt. Saraswati Ramnathan 116 ITD 234 (Del)
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