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(Querist)
18 September 2017 whether any excuse available for delay in investment u/s 54EC even if the issue of bonds are open and investment delayed due to lack of knowledge.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
18 September 2017 No..............
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
18 September 2017 Problem is that though genuine, we cannot prove that we didnt invest due to lack of knowledge
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
18 September 2017 Only solution is to change date of agreement of sale.
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
18 September 2017 It is not easy to change it now, i feel with a future date. The seller has to consider when he has received the funds too.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
18 September 2017 Yes but if legal formality not completed then he can do so.

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