07 February 2012
hi whether an assessee can claim exemption u/s.54EC i.e.rs.50lacs on sale of long term capital asset for each capital asset in a financial year eg: Building A - Rs.50lacs Building B - Rs.50lacs totally rs.1 crore in a single financial year
07 February 2012
The maximum amount of exemption claim u/s 54EC is Rs.50 lacs for a financial year. The proviso reads as DURING A FINANCIAL YEAR DOES NOT EXCEED 50LAKHS.. very clear ..
CAclubindia
