54 EC

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CA Keyur Shah (Querist)
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11 June 2011 in 54EC there is limit of 50lacs for each year.
suppose i sold capital asset in february and invest in REC BOND 50LACS and now i invest again in july rs. 50 lacs after filling return then how to claim july's rs. 50 lacs?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 June 2011 One crore is possible as per https://www.simpletaxindia.org/2009/03/sec-54-ec-bonds-1-crore-capital-gain.html

If the assessee prefers to do so by availing the celing of Rs. 1 crore by investing Rs. 50/- lakhs each in two financial years,it would mean that the law gives an additional benefit for those who postpone the transaction to the last quarter of the financial year thereby creating an adventurous situation inviting the risk of rejection by the income tax department.

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