Capital Gain of 54EC bond
This query is : Resolved
05 September 2009
As per the section 54EC the time limit for investing in specified bond of REC or NHAI is 6months from the date of sale but if we have applied for the bond at the end of 5th month i.e. assuming on 28/2/2008 & the amount was credited in the account of REC on 5/03/2008 but the bond were allotted after the end of the 6th month i.e in April 2008..
Is the exemption allowed under the section 54EC in Capital Gain ????
Is the exemption allowed under the section 54EC in Capital Gain ????
06 September 2009
yes since the amount has been credited in REC's within 6 months the benefit u/s 54EC will be recd
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