Upendra Kumar Diwan (Retired) (34 Points)
31 January 2019My brother who is NRI had JDA with builder and got three duplexes in exchange of land given to builder.No money transaction is done.Taking rebate on one house the capital gain comes to be about 4 lacs.Because he is out and cannot send money just now can I (His legal POA) deposit money on his behalf from my account in India under section 54EC to escape capital gain tax?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(167606 Points)
Replied 31 January 2019
The time limit for investment in bonds is six months from the date of gains realized/accrued. So, plan accordingly.
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