Capital Gains and 54EC
This query is : Resolved
05 December 2020
Say I have sold a property on 1/jan/20 having capital gain of 50 lakhs and
another on 1/sep/20 having similar capital gain of 50 lakhs.
Can I avoid capital gain tax by investing in 50 lakhs in bonds on 1/5/20 and another 50 lakhs on 1/oct/20. If this is not allowed because I cannot invest more than 50 lakhs in a FY,
Can I invest 50 lakhs on 1/mar/20 and 50 lakhs on 1/oct/20 to avoid capital gain tax on both sales?
another on 1/sep/20 having similar capital gain of 50 lakhs.
Can I avoid capital gain tax by investing in 50 lakhs in bonds on 1/5/20 and another 50 lakhs on 1/oct/20. If this is not allowed because I cannot invest more than 50 lakhs in a FY,
Can I invest 50 lakhs on 1/mar/20 and 50 lakhs on 1/oct/20 to avoid capital gain tax on both sales?
05 December 2020
unfortunately no. The proviso to the section restricts Rs 50 lakhs investment for the year of sale of property as well as the next year. So in nutshell you can only invest Rs 50 lakhs in FY 2019-20 and 2020-21.
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
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Journal entry of busniess expenses
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- RATE AND HSN CODE
- TDS AND ITR ISSUE
- GST Rate for Catering Services
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
