Hi, I have a querry regarding taxability of LTCG in case of deceased assessee. The assessee was a super senior citizen and having LTCG on sale of property which is taxable @ 20% subject to basic exemption limit and other sources income. Till date, no investements U/s 54 has been made to claim exemption against LTCG. Can investment in the name of legal hier be made as on date ? Since as per Sec 54EC investments should be made within 6 months from date of sale and 6 months has not elapsed.
Awaiting expert opinion on the same.
Thankyou in advance.
CAclubindia
