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
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.
.
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