Capital gain
This query is : Resolved
09 May 2012
plz tell me about sec. 54EC. Nd what circumstance when we get exemption of RS ONE CRORE
10 May 2012
you have to invest in NHAI or REC bonds subject to limit of Rs. 50 lakhs in one financial year and it should be made within 6 months of tranfer.
now if you want to claim 1 crore
EX: sell it in march 1st week and invest 50 lakhs till march 31 St and the balance in next financial year therefore both the conditions are satisfied.
you have to invest in NHAI or REC bonds subject to limit of Rs. 50 lakhs in one financial year and it should be made within 6 months of tranfer.
now if you want to claim 1 crore
EX: sell it in march 1st week and invest 50 lakhs till march 31 St and the balance in next financial year therefore both the conditions are satisfied.
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10 May 2012
Agree with Ms. Shilpa.
Time limit is within 6 month. So you can sell/transfer property from November to March month and invest 50 lacs in same year and another 50 lacs within 6 months from the date of transfer of property.
Time limit is within 6 month. So you can sell/transfer property from November to March month and invest 50 lacs in same year and another 50 lacs within 6 months from the date of transfer of property.
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