54ec
Anshul (Article) (47 Points)
23 February 2014Anshul (Article) (47 Points)
23 February 2014
KRISHNAPRASAD IYER
(B.Com , CA Final)
(657 Points)
Replied 23 February 2014
The transfer will take place in March; i.e., FY 2013-14. The capital gain can be invested in bonds notified in sec 54EC. The point to be considered is that it should be invested in the year in which the transfer of property occurs. In other words, it should be invested in the specified bonds before March 31st 2014
Hope this helped!!
Pradeep Gupta
(Accounts Manager)
(298 Points)
Replied 23 February 2014
Anshul
(Article)
(47 Points)
Replied 23 February 2014
Anshul
(Article)
(47 Points)
Replied 23 February 2014
JAINENDRA JAIN
(ACS/CA)
(1668 Points)
Replied 23 February 2014
Stranger
(.)
(5526 Points)
Replied 24 February 2014
Dear Anshul, deduction u/s-54EC will be allowed in case of transfer of long term capital asset, if investment is made in redeemable bonds of NHAI or RECL upto Rs.1 crore subject to LTCG, provided investment is done in 2 F.Ys (upto max. Rs.50 lakhs for each F.Y) within 6 months from the date of transfer. Moreover you cannot transfer or take any advance or loan on security of the specified bonds within 3 years from the date of its acquisition, else it will be deemed to be LTCG in the year of transfer of specified asset
Rahul jain
(LEARNING & TEACHING)
(435 Points)
Replied 24 February 2014
Abhishek Kumar Mishra
(CA FINALIST AND A TEACHER)
(28 Points)
Replied 25 February 2014
Anshul
(Article)
(47 Points)
Replied 25 February 2014
Stranger
(.)
(5526 Points)
Replied 26 February 2014
Absolutely friend..6 months from date of transfer is important. Moreover, it will be more beneficial if 6 months time period ends on the next F.Y as in that case u can claim deduction of upto Rs.1 Crore, i.e. Rs.50 lakhs per F.Y.
Hope your doubt is clear now..
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