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

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




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries