Sec 54ec
This query is : Resolved
09 March 2019
If a capital gain arises in the name partnership firm by selling land (LTCG). The doubt that arises here is that for claiming exemption u/s 54EC whether the partner individually should invest in their name or the partnership firm should invest in its name in NHAI or RECL bonds. What do the Act say in this situation
Kindly reply in details.
Kindly reply in details.
10 March 2019
The thumb rule is the reinvestment should be in the name of the person in whose
name the original asset belonged. But there are divergent decisions.
name the original asset belonged. But there are divergent decisions.
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