( Author )
15 January 2012
We want to buy NHAI / REC Bonds under section 54 EC to avoid tax on LTCG out of Sale of Residential house property of a firm.
i want to know
1) the tax liability of interest incomes from investment in bonds, is this income is chargeable to tax in the hands of firm.
2)Tax liability on LTCG / Loss at the time of sale of bonds.
Waiting for your reply..
Thanks in advance.