Exemption u/s 54EC is claimed by d taxpayer in FY 2010-11 for long term CG. Wether after death of taxpayer his legal heir is required to hold that investment for 3 years? If he withdraws that amount before completion of 3 yrs is it taxable in d hands of d legalheir? Plz Reply.
2 Replies
Sandeep Diwan
(service)
(129 Points)
Replied 05 March 2012
yes legal heir is required to hold that investment for 3 years to fulfill the condition in absence of this all exmpetion will be withdrawn. As the ownership is transfer to legal hierer hence this is his responsibilty to fufill all condirtion in order to get benefit u/s 54EC
Aashutosh Bhide
(Article)
(104 Points)
Replied 05 March 2012
Yes....... it will become taxable in the hands of legal heir if it is withdraw before 3 yrs.........
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
