Exemption u/s 54EC

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 September 2010 Hi,
My Capital Gain has arise on 25.03.10 & i want to invest in 54EC Bonds which i can do within 6months from 25.03.10 i.e 25.09.10 but my due date of filing return is 31.07.10 so can i claim exemption though i have not invested till 31.07.10 but going to do before 25.09.10.

CA PRAMOD SARAOGI

CA PRAMOD SARAOGI (Expert)
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03 September 2010 Legally you can claim the exemption as the law required that the investments in 54EC Bonds is to be made within 6 months of the date of transfer. If you are unable to make the investemts within the prescribed time limit and have already furnished the return before the due date of filing the return then you have to file a revised return.However, it is advisable to make the investment befre filing of the return to avoid any sort of litigation

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2010 Thanks a lot.....

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