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.
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54ec exemption death of tax payer
Replies (2)
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heir is required to hold that investment for 3 years to fulfill the condition in absence of this all exmpetion will be withdrawn.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
Yes....... it will become taxable in the hands of legal heir if it is withdraw before 3 yrs.........
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