Is the investment in bonds permissible for each of the financial years.
please help me,
Is the investment in bonds permissible for each FYs
jtreddy (articled student) (61 Points)
22 December 2007
1 Replies
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 23 December 2007
Sec. 54EC grants deduction from taxable capital gains on transfer of a capital asset to the extent of investments in notified bonds within six months from the date of transfer of such asset.
Therefore, You will be get a exemption only in the capital gain and thats also only in the year of arising of capital gain.
So, if you want a exemption u/s 54EC of income tax act,1962 whenever capital gain is arising in sale of capital assets you need to invest in investments in notified Bonds
Therefore, You will be get a exemption only in the capital gain and thats also only in the year of arising of capital gain.
So, if you want a exemption u/s 54EC of income tax act,1962 whenever capital gain is arising in sale of capital assets you need to invest in investments in notified Bonds
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