Long Term Capital Gain

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samir thakkar (Querist)
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03 March 2010 1.U/S 54EC, investing in bonds, the limit per financial year is Rs.50 lakhs. My client will make a LTCG of Rs. 1 crore. Can he invest Rs. 50 lacs before 31.03.10 and another Rs. 50 lacs in next financial year i.e. after 01.04.10 upto 14.08.10 to get the full exemption of Rs. 1 crore ?
2. In the recent budget, Service Tax of 12 % is levied on the rental income of commercial premises ( lease ). The said is to be retrospectively effective from 01.06.07. If the same is passed in the parliament, how and when it will be published ?
Awaiting a quick response. Thanks, Regards.
Samir Thakkar.

shrikant

shrikant (Expert)
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03 March 2010 Dear Samir

What are you saying is purely tax manipulation. Sorry friend but it is not allowed. Please don't do it other wise you will be in big trouble. Other wise you can claim deduction under other section life 54F or 54 if applicable.

The service tax provision will come into effect from 01/04/10 if passed by parliament