Capital gain

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Nitin (Querist)

08 January 2012 one of my client had a long term cap gain of approx 2.5 crore , now as the LTCG as transaction is of Novemer end I suggested him of Investing 50Lacs Till March in 54EC, And invest further within april 50 lacs again in 54EC.
Still There are capgain of approx1.5 crore
i futher tell in to invest as per Sec 54, but he resisted. Now i want to know is there any other way to save tax legally or otherwise . plz suggest on asap basis

CA Suraj Lakhotia

CA Suraj Lakhotia (Expert)

08 January 2012 The only options available to save tax on Capital Gains is to invest under modes specified under section 54. There are no other modes by which tax on capital gains can be saved.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

09 January 2012 CA Suraj Lakhotia's view is correct if his views are in respect of the balance amount of 1.50 Crore's Capital Gains.
.
When the client resists ?

He may have certain profitable avenues of earning higher profits than the tax amount is likely to be paid or he may be in urgent needs of funds for other purposes.

Nitin

Nitin (Querist)

09 January 2012 54 is not an opton for me.
one frd suggest to increase Coa to reduce cap gain
He also suggest to purchase entry from other .

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