I need the answer to question no. 3(a) in Direct tax of new syllabus.
For ur convenience the question in short.
In capital gains, under section 54EC, the time limit provided for investing in the prescribed bond is six months from the date of transfer of the capital asset.
If the assessee has sold the property in the month of january and invested the capital gains arising from the said transfer in two parts i.e., half the amount in the month of march and the other half in the month of may, can he claim the amount invested in the month of may, as his current year exemption amount.
i.e., for AY 2010 - 2011 can the amount invested in the financial year 2010 - 2011 be claimed???
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