Tax queries

Sirjee Invest in 54 EC....

"54EC"  Is that only OPTION or is ther any other way out for saving tax by investing in other instruments.. PLS GUIDE.

THNKS

U can save tax by Either of the following :-

Buy a new property

Open a CGAS Account - keep ur Capital gain amount in a Govt bank Special CGAS a/c till the time u find a new house & then withdraw when u actually buy a new house

Invest in 54EC bonds - Most Practical

Mr. Neerav 

You have the following options:

1. Get REC or NHAI Bonds u/s 54EC within 6 months from the date of transfer fo property.

2. If the property sold is a residential property than invest the capital gain amount in a new residential property within two years or construct a new residential house within 3 yrs , how ever if the property sold today is not a residential property than invest the net consideration in a residential house.

3. Open a Capital gain saving account in a nationalised bank and deposit the capital gain amount in the same before the filing the income tax return and later invest the amount within three years into some residential house.

for futher details on any of the above option , plz continue the conversation..