Section 54EC
This query is : Resolved
20 March 2010
"(b) if the cost of the long-term specified asset is less than the capital gain arising from the transfer of the original asset, so much of the capital gain as bears to the whole of the capital gain the same proportion as the cost of acquisition of the long-term specified asset bears to the whole of the capital gain, shall not be charged under section 45"
Example-
Indexed Cost of Acqusition - Rs. 100000
Sale Price - Rs. 1000000
Capital Gain - Rs. 900000
Investment in NHAI & RECI Bonds - Rs. 500000
How much amount will be taxable as capital gain & how much will not be chargeable to tax ?
Example-
Indexed Cost of Acqusition - Rs. 100000
Sale Price - Rs. 1000000
Capital Gain - Rs. 900000
Investment in NHAI & RECI Bonds - Rs. 500000
How much amount will be taxable as capital gain & how much will not be chargeable to tax ?
20 March 2010
rs. 5,00,000 exempt u/s 54ec and balance rs. 400000 will be taxable as capital gain
22 March 2010
What is the significance of PROPORTION in the above section ?
23 March 2010
FOR SEC. 54EC FULL AMT. OF CAPITAL GAIN IS EXEMPTED IF DEPOSITED TO SPECIFIED SCHEME & WITHIN THE TIME.
NO PROPORTION FOR SEC 54EC
NO PROPORTION FOR SEC 54EC
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Confusion around Form 26QB fields
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
Trending Online Classes
CAclubindia
