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Benefit u/s 54EC to Non-residents

DMC (Student) (364 Points)

18 November 2007

Can Non-Residents save tax on Long Term Capital Gains by purchasing bonds of NHAI or REC as per section 54EC or this benefit is only available for residents.

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2 Replies

Ankit Dangayach (Chartered Accountant) (691 Points)
Replied 18 November 2007

Exemption In respect of capital gain is available to all assessees (including Non residents) U/S 54EC. So non Residents can save tax by purchasing bonds of NHAI or REC .

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GARGS (CA) (74 Points)
Replied 20 November 2007

As there is no specific exclusion of non-residents from the exemption of sec 54EC. Therefore we can give this exemption to non-residents also. Thanks, taxsolution @ againstthelaw.co.in