54ec
This query is : Resolved
25 February 2013
is exemption u/s 54ec available for sale of two residential house properties
25 February 2013
Hi
Yes it is available limit is Investment in the new assets or capital gain, which ever is lower (Max. Rs. 50
Lacs for that Fin. Yr.)
Thanks!!
Yes it is available limit is Investment in the new assets or capital gain, which ever is lower (Max. Rs. 50
Lacs for that Fin. Yr.)
Thanks!!
26 February 2013
Only Investment in Bond of NHAI, REC is Taken for Claiming Exemption. & Can Claim for 2 Residential Houses.
26 February 2013
hi! 54ec talks about a transfer of a long term capital asset and if the capital gain is invested in bonds within 6 months capital gain or amount invested whichever is lower is exempt... is 54ec is available for sale of two properties instead of one house property....
26 February 2013
hi! 54ec talks about a transfer of a long term capital asset and if the capital gain is invested in bonds within 6 months capital gain or amount invested whichever is lower is exempt... is 54ec is available for sale of two properties instead of one house property....
26 February 2013
Yes, Its Available.
26 February 2013
but the letter "a" means singular in sec 54ec ? the letter "a" has given importance in sec 54 meaning 1 residential house should be purchased for claiming exemption u/s 54 !
26 February 2013
Yes, "a" Word is Used.
Section 54EC of the Act provides that the capital gain arising from transfer of a long term capital asset shall be exempt, if the amount of such capital gain is invested in capital gain bonds issued by Rural Electrification Corporation (REC) and National Highway Authority of India (NHAI) (hereafter referred to as the Specified Bonds) within six months from the date of the transfer of the subject capital asset. The amount of exemption would be equal to the amount of capital gain or the amount invested in the Specified Bonds, whichever is lower.
Section 54EC of the Act provides that the capital gain arising from transfer of a long term capital asset shall be exempt, if the amount of such capital gain is invested in capital gain bonds issued by Rural Electrification Corporation (REC) and National Highway Authority of India (NHAI) (hereafter referred to as the Specified Bonds) within six months from the date of the transfer of the subject capital asset. The amount of exemption would be equal to the amount of capital gain or the amount invested in the Specified Bonds, whichever is lower.
26 February 2013
Yes, Its a debatable issue. But Till date There is no Such case.
But I dont think so, Problems Will come as far as This Matter is concerned.
Apart From This, if you go on safer side, then Sale One residential House Before March, and second on in Next Financial Year.
But I dont think so, Problems Will come as far as This Matter is concerned.
Apart From This, if you go on safer side, then Sale One residential House Before March, and second on in Next Financial Year.
26 February 2013
the letter "a" means one in sec 54, the same should apply even to sec 54ec....
26 February 2013
I Don't remember Any case law for This Issue.
If You have Any Then Pls Let Me Know.
If You have Any Then Pls Let Me Know.
26 February 2013
Even in Sec 54Ec also, "a" word used.
So Lets Wait for other expert reply.
What is Their opinion.
So Lets Wait for other expert reply.
What is Their opinion.
26 February 2013
ok fine , thank you
26 February 2013
Dear Surendra,
I Think Its Allowed.
This Link May Help You.
http://www.dnaindia.com/analysis/column_sec-54-relief-not-limited-to-one-house_1732410
I Think Its Allowed.
This Link May Help You.
http://www.dnaindia.com/analysis/column_sec-54-relief-not-limited-to-one-house_1732410
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