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54ec capital gain bonds

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Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2012 I have sold a flat on 26/06/2012 after owning it for more than 5 years. I wanted to invest the gain in 54EC Capital Gain Bonds of REC or NHAI to save Long Term Capital Gain Tax. But the prospectus of these bonds says that the bonds would be alloted only on the last day of each month. If I pay the money before 26/12/2012 (completion of 6 months from the date of sale of my flat), but the bonds are alloted on 31/12/2012, will I be able to save LTCG Tax ?

Amol S Joglekar

Amol S Joglekar (Expert)

17 December 2012 Yes. Many a authorities have always taken a liberal view on this issue. You send the application on or befor 26/12/2012 so as to be out of your power to cancell the same AND let them allot it on any date subsequent to that. No tension, no worries.

Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2012 Sir, Thankyou very much

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