25 October 2023
I sold my property on 17-April-2023. Am I eligible to buy 54EC bonds now to claim capital gains exemption? i.e after 180 days but within 6 calendar months i.e within 31-October-2023.
Further to above question, if I am eligible for exemption, even if I purchase the REC 54EC bonds now (after 180 days but before 31-Oct-2023), will IT department automatically accept it or I need to fight for it as the purchase of bonds is after 180 days but within 6 calendar months. Will Income tax department send notice since the investment in 54EC bonds is after 180 days?
Here 6 months statement w.r.t 54EC bonds leads to ambiguity and it is not clear. Please help with more accurate information for above 2 questions.
25 October 2023
It's 6 calendar months not 180 days. See the link. https://taxguru.in/income-tax/sec-54ec-months-means-calendar-months-180-days.html#:~:text=54EC%2D%20Six%20months%20means%20six%20calendar%20months%20and%20not%20180%20days
25 October 2023
Thanks for sharing the link. As per the link, even if I invest now (i.e. before 31-Oct-2023), I am eligible for deduction under section 54EC, please confirm on this.
25 October 2023
Further to above question, Will Income tax department automatically consider 6 calendar months for 54EC or they still consider 180 days due to ambiguity and send notice? Any idea about this? What is the solution, if such notice is received.
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