28 January 2016
I HAVE SOLD GIFTED LAND FOR RS 24,00,000/- AFTER COST OF INDEX LT CAPITAL GAIN WORKED OUT RS 6,00,000/- IF THE SAME 6,00,000/- INVESTED IN CAPITAL GAIN BOND U/S 54 EC THEN FULL DEDUCTION U/S 54 EC IS AVAILABLE OR PROPORTIONATE DEDUCTION PL CLERIFY
28 January 2016
The investment has to be made within six months from the date of the transfer in order to be eligible for claiming the benefit of deduction under section 54EC.
The maximum amount that a person can invest in these bonds (NHAI and REC combined) in any financial year is Rs 50 lakh.
Hence, you can claim full deduction of Rs. 6 Lakhs Rs.
CAclubindia
