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Exemption us 54EC

27 September 2020

long term capital asset has been transferred on 02.12.2019, please advise whether time of purchase of NHAI/REC bond exists now to get exemption

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9 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 27 September 2020

Yes, you can purchase NHAI/REC/PFC/IRFC bond on or Before 30th September, 2020 to claim Exemption of Long term Capital Gain u/s 54EC up to 50 lakhs.
Last date is 30th September, 2020 in your case...

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sabyasachi mukherjee (27597 Points)
Replied 28 September 2020

Yes you can purchase long term capital asset
You can invest in infrastructure bonds NHAI/REC and others.

Avtar Singh (363 Points)
Replied 28 September 2020

Time lapse, investments u/s 54ec is eligible within 6 month from the date of transfer of asset

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 28 September 2020

@ Mr. Avtar Singh
it's within 6 Months, but in current covid situation, Goverment extended this date to 30th September, 2020

sabyasachi mukherjee (27597 Points)
Replied 28 September 2020

NOT ONLY UNDER THIS SECTION ALL INVESTMENTS ARE EXTENDED TO EASE THE COMPLICATIONS .

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sabyasachi mukherjee (27597 Points)
Replied 28 September 2020

NOT ONLY UNDER THIS SECTION ALL INVESTMENTS ARE EXTENDED TO EASE THE COMPLICATIONS .

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 28 September 2020

@ Subyasachi ji

All investment extended but all investment are not extended to same 30th September, 2020
1.Chapter VI-A under the heading “B" investment i.e 80C to 80U extended to 31st July, 2020
2. Section. 54 to 54G investment, extended to 30th September, 2020