section 54 EC
This query is : Resolved
26 May 2008
we have short term capital gain of Rs.50000/- U/S 50 but as per book profit on sale is coming to RS 550000/- due to That we have to pay Tax U/S 115JB. Now my question is whether can we invest U/S 54EC to save TAx U/S 115JB by investing in bonds of NHAI/REC ltd.
Thanks
Thanks
CA. Yayati Tyagi
(Expert)
26 May 2008
sec. 54EC is applicable for long term capital gain only.
26 May 2008
YES SRI TYAGI IS RIGHT.
STCG IS AVAILABLE FOR SET OFF AGAINST STCL OR LTCL
R.V.RAO
STCG IS AVAILABLE FOR SET OFF AGAINST STCL OR LTCL
R.V.RAO
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