PLS. GIVE ME THE DETAILS OF U/S 54EC OF THE INCOME TAX ACT.
5 Replies
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 28 April 2017
you can invest in NHAI Bonds or REC Bonds int rate is 5.6% simple interest you can ivest upto 50 lakhs only within 6 months of sale these investment in bond cannot be done online you have to apply in physcial forms only
Krishanu Chowdhury
(153 Points)
Replied 28 April 2017
IS U/S 54EC OF THE INCOME TAX ACT IS TAX FREE?
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 29 April 2017
Interest in those bonds are taxable the capital gain invested in these bonds is tax free
CA CS Jainam Shah
(Practicing Chartered Accountant)
(2492 Points)
Replied 29 April 2017
Current interest rate for NHAI bond is 5.25% p.a. This interest is taxable.
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