Deduction u/s 54EC
priyanka pal (110 Points)
21 August 2020
can I take deduction u/s 54EC in case I transfer property under land development agreement.
1 Replies
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 21 August 2020
| Originally posted by : priyanka pal | ||
 |
can I take deduction u/s 54EC in case I transfer property under land development agreement. |  |
1-Capital gain arises from the transfer of Land and Building, being a long-term capital asset
2- Assessee has within a period of 6 months after the date of such transfer, invested capital gains in the Bonds of Specified companies.
Amount of exemption
Capital gain or the cost of new asset whichever is lower.
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