54ec

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!!

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..thanx for the correction friend

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..