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 ????
CAclubindia
