Capital gains imp

It shall be shown in AY 2013-14 only.

Since the section 54EC talks about investment in a financial year.

But 54EC(1)(a) uses the expression "if the cost of the long-term specified asset is not less than the capital gain arising from the transfer of the original asset, the whole of such capital gain shall not be charged".

Meaning thereby, whole amount of exemption(i.e.90.49 Lakhs) shall be available in AY 2013-14 itself, since in this case the investment is upto Rs. 50 Lakhs in both the FYs. Further,  the amount of cost of the specified asset hsa been paid within 6 months of transfer only.

1. Long Term Capital Asset Long term assets means any capital asset held by assessee for more than 3 Years.
2. If assesee has sold the Long term capital asset during the previous year and made a long term capital gain then he can invest money of capital gain in Capital gain bonds and can save tax on long term capital gain.
3. Assessee here means all type of assessees,like individual,firm company etc.
4. Amount to be invested in bonds is only capital gain not net consideration received on sale of long term capital asset
5. Amount exempted under this section will be amount of capital gain or amount invested in capital gain bond which ever is lower maximum up to 50Lakh(see note below)
6. These Bonds Maturity Period is Three years
7. Capital gain bonds eligible under this section are now can be issued only by REC or NABARD
8. Bonds can not be pledged ,sold transfer before completion of three year from purchase of bonds ,and in case its transferred then amount capital gain exempted on investment in these bonds will be made taxable in that previous year as Long term capital gain .
9. Amount of capital gain should be invested in Capital gain bond within 6 Month from date of transfer/sale of capital asset .

ya u can claim whole amount in A.Y. 13-14 ONLY

@ Sumit...it means that i need to show deduction of 90.49 lacs in the it return of  A.Y. 13-14.