Capital gain
This query is : Resolved
12 January 2012
Assessee Sold his Residential House Property in the month December 2011 and Invested Rs 50,00,000/- U/s 54 EC Bond before March 2012 and required to Invest further Rs 50,00,000/- Under 54EC after March 2012 , but with in SIX months . Whether assessee entitle for Deduction U/S 54 EC of RS 1,00,00,000/- for Asst. Year 2012-2013
CA PARAS BAFNA
(Expert)
12 January 2012
Yes, the amount is deductible.
In Income Tax generally Previous Year is referred. In Section 54EC, you will get "Financial Year".
So for FY 2011-12, 50.00 lac investment is allowed. And for FY 2012-13 50.00 lac investment is not denied.
.
In Income Tax generally Previous Year is referred. In Section 54EC, you will get "Financial Year".
So for FY 2011-12, 50.00 lac investment is allowed. And for FY 2012-13 50.00 lac investment is not denied.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- Equity Share Sale and Purchase
- Whether output tax is taken credit by purchaser
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
