18 April 2020
Dear CA Friends, Assuming, I open a capital gain account to park the LTCGs out of a sale residential land and if I am not able to invest that in any house property within 3 years can I invest that into 54EC bond and claim exemption?
19 April 2020
Exemption U/s 54EC can be claimed only if invested within 6 months from the date of transfer. As above transaction is not transfer, u cant claim
19 April 2020
Thanks. For the LTCG during FY 2019-20 say transaction took place in Oct'20 can we invest till June'20. Since the dates are extended due to COVID-19 home the window is available.
Also earlier for transaction that has happened post Oct' till March had a librty to invest 50L prior to March and 50L after March such that within 6 months I get opportunity to cross the 50L limit. Is that still possible for transacation done in Oct'19 considering the COVID-19 situation.
19 April 2020
As per the relief measures issued , where the time limit is expiring between 20th March 2020 to 29th June 2020 for various investments , extended to 30th June 2020. It includes investments for roll over benefits of capital gain also.
CAclubindia
