rishabh khaitan (articleship) (78 Points)
21 April 2018Hi All,
My client is selling two flats in the same building constructed by Him to two different persons by two seperate Sale Deeds.
He has question that weather he can invest an amount of Rs 1cr in section 54EC as the limit is Rs 50 Lakhs.
So basically the confusion is that weather the limit of Rs 50 Lakhs mentioned in section 54EC is person specific or Property specific ?
Thanks and Regards.
CA Rishabh Khaitan
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177846 Points)
Replied 21 April 2018
Its person specific for each assessment year.
If the flats are sold in two different financial years........ one can get that benefit twice, but otherwise only 50 lakhs limit per year.
Arun Gupta
(C.A)
(26 Points)
Replied 21 April 2018
CAclubindia
