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Capital Gain

CA KAMAL MADAN (CHARTERED ACCOUNTANT) (147 Points)

04 August 2020

Plot sold on 23/05/2019 and on that there is a capital gain of 15 lacs ,can we get exemption under 54EC if we make investment now?

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3 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 04 August 2020

If Plot sold on 23/05/2019 and on that there is a capital gain of 15 lacs, than to get exemption under 54EC you are required to make investment in notified Capital gain bond within 6 month from date of sale, which is already Passed.

So, now you can not get exemption by making investment in bond.

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sabyasachi mukherjee (27574 Points)
Replied 05 August 2020

There are more pertinent points...
Your capital gain is short term or long term.
You can claim exemption under Sec 54 EC upto a limit of Rs. 50 lacs within six months from the date of sale.

Ravi SADhiyan (Practice) (4510 Points)
Replied 05 August 2020

Originally posted by : sabyasachi mukherjee
	There are more pertinent points...Your capital gain is short term or long term.You can claim exemption under Sec 54 EC upto a limit of Rs. 50 lacs within six months from the date of sale.