I have invested in PFC Bond under Section 54EC of Capital Gain Exemption in Sept 2022. Now I want to withdraw the same. Can I Do that and What is Procedure?
I'm aware that my Capital Gain Exempted will be taxed accordingly.
5 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177726 Points)
Replied 03 January 2023
Get NOC from your jurisdictional ITO, by paying LTCG tax as per his advice. Based on NOC the bonds can be surrender back.
Nishant
(Assistant)
(1095 Points)
Replied 03 January 2023
Thank you sir....
Can you provide me reference of relevant section or Provisions on the basis of which I can approach concerned AO.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177726 Points)
Replied 03 January 2023
Check the term & conditions on the back of the bond certificate...
Or contact PFC bond helpline...
Nishant
(Assistant)
(1095 Points)
Replied 04 January 2023
Sir, received this communication from PFC.
Dear sir
As per 54EC act, redemption before maturity date is not possible. It is requested to hold the bonds till maturity.
54EC Investorcell
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177726 Points)
Replied 04 January 2023
PFC has no right to mature the bond before 5 years, unless ITO directs it to do the same. That is why I, initially stated to get permission from Jurisdictional ITO.
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