Please guide me on the following Issue, one of client sold his Residential Flat and Now He is Getting LTCG taxable at 20%,and he do not want to invest in another property because of urgency of funds, we advised him to invest his capital gain in 54EC bonds and then hold these bonds till 3 yrs and sell them after 3 yrs, so my query is wheather he can do so and the consideration he will receive after surrendering those bonds is taxable or tax free?? and any other way of saving his captial Gain?? Please guide.
CAclubindia
