Archana (Resource Person) (24 Points)
08 August 2012If a person wants to invest Rs.15 Lakhs in 54 EC bonds to avail tax exemption on LTCG, how should he go about doing it?
1) Where can he buy the bonds? Where is it available? What is better NHAI or REC?
2) Will the money invested earn interest? If so, how much?
3) What documents do you need to subsribe to a bond?
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 08 August 2012
1) he may get bonds at broker (as per my knowledge), both are better
2) yes it will earn interest around 6% and it is taxable
3) i think only self attested copy of PAN is required...
Cawas
(Owner)
(24 Points)
Replied 17 September 2012
Hi
I had bought a flat in Mumbai at Rupees 7.50 lakhs in 1991 and I sold the flat at Rs 84 lakhs this July 2012. How much do I have to invest in buying property or purchasing bonds to make sure I dont accrue long term capital gains tax under section 54EC.
Regards
Cawas
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
