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Capital gain -long term

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 December 2018 One Individual sold his vacant residential housing plot . He invested the remaining amount after the Long term capital gain amount in REC BONDS.

SALE VALUE : RS.50,00,000
INDEXED COST : Rs. 10,00,000
LONG TERM CAPITAL GAIN : Rs 40,00,000
invested in capital gain Bond , say REC ; Rs.40,00,000
Whether he will get capital gain tax fully exempted , under what section of I.T? or how much amount of capital gain tax to paid?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
30 December 2018 Yes capital gains tax fully exempt under section 54 EC.
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Querist : Anonymous

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Querist : Anonymous (Querist)
30 December 2018 Thanks for your reply.
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