06 November 2013
Dear Sirs, am in the process of selling my flat in the current financial year and my LTCG with Indexation will be about 7500000 to 80000000. I know I can only invest 50 in the current FY....and balance in next Financial year...will this be possible ? How can I report it to IT ? THanks Chandrika
12 November 2013
Section 54EC Exemption (Rs.50,00,000) is available For Per Calendar Year. So, You may Sale your Flat after 30th September and Take Benifit of Rs. 1 Crore Exemption u/s 54EC.
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