Capital Gain

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Shabbir (Querist)
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04 July 2009 An assessee has sold a land last year and invested in buying a residential house for claiming deduction u/s 54F. Whether the assesee can invest the balance amount in bonds u/s 54EC and claim deduction under both sec 54F & 54EC simultaneously.

Ratan Sharma

Ratan Sharma (Expert)
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04 July 2009 Hi,
Yes the assessee can claim deduction under both the sections. Both the sections are independent from each other and there is no bar as such.

taxindiaconnect

taxindiaconnect (Expert)
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04 July 2009 Agreed with Ratan.

sagar

sagar (Expert)
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04 July 2009 Yes.. Balance amount only you can invest in 54EC. If you are investing full amount u/s 54F. then you can not avail exemption under 54EC.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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04 July 2009 yes he can do so

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