Capital gains

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Sagar Gupta (Querist)
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21 March 2016 A partnership firm purchased a property in the year 1970 .. now they are planning to sell that property..Is there any way by which they can save the capital gain tax??

Can they purchase bonds u/s 54ec ??

Ankur Singhal

Ankur Singhal (Expert)
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21 March 2016 Dear
They can purchase bonds u/s 54ec to claim exemption.
But bonds should be purchased within 6months from date sale.

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Sagar Gupta

Sagar Gupta (Querist)
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22 March 2016 Dear Sir,

But as per my knowledge a firm cannot purchase bonds in its name.. So do they have to purchase in individual names or any other alternative is there??

Ankur Singhal

Ankur Singhal (Expert)
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22 March 2016 Dear
This benefit is available to every asessee.
Any person (including NRI out of NRO account on a non-repatriable basis) and Hindu undivided family (HUF) through its Karta can make investments into these two bonds issued by NHAI and REC. This can also be invested by partnerships, companies, financial institutions, insurance companies, provident funds, superannuation funds, gratuity funds, mutual funds, FIIs, trusts authorized to invest bonds etc.

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