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
- CG Tax On residential property
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Pass word to open justification report for Q1 for FY 2026-27
- Gift of mutual fund units to daughter
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Not able to file ITR
- Building tax payment deduction in rental Income
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
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
