19 September 2014
An individual has obtained long term capital gain out of sale of equity shares in a private limited company. What are the investment options available to him for obtaining the capital gain exemption.
Investing in specified bonds are clear as per Section 54 EC. But as per information received from some sources, there were doubts whether the LTCG from sale of shares can be invested in house property. In the section, it is also mentioned below at the end as "Explanation.—39[Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.]]
21 September 2014
havent heard of any such restriction. please refer http://taxguru.in/income-tax/tax-benefit-under-section-54ec-on-long-term-capital-gain.html
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