21 December 2010
According to section 54 EC Investment made with in 6 month in specified security. my query is I have made the application for investment before due date ie before 6 month but fund withdraw from my bank statement after due date and got the certificate after due date, whether I will get 54 EC exemption or not.and if yes then on what basis and case law i will get the exemption
21 December 2010
Nope, i think u wont get exemption benefit..., for e.g., a director has to get qualified shares within 2 months of his appointment, that means he shud get his name registered, Mere application of shares is not sufficient..... So in ur case as well, i think, its reqd to make investment within 6 months...
CAclubindia
