Claiming exemption of long term cap. gains tax u/s 54ec
This query is : Resolved
13 February 2014
Dear Friends / Respected Sirs / Madam
A Property was sold for a net consideration of Rs.30,00,000. In order to get relief from LTCG U/S 54EC of the Income Tax Act;
1. Whether the whole of the sale proceeds is to be invested in bonds of NHAI, NABARD, REC etc.. ? Or
2. Whether the Taxable Income Portion of the sale proceeds attracting LTCG alone is to be invested ???
Kindly advice me on the implications and applicability.
A Property was sold for a net consideration of Rs.30,00,000. In order to get relief from LTCG U/S 54EC of the Income Tax Act;
1. Whether the whole of the sale proceeds is to be invested in bonds of NHAI, NABARD, REC etc.. ? Or
2. Whether the Taxable Income Portion of the sale proceeds attracting LTCG alone is to be invested ???
Kindly advice me on the implications and applicability.
13 February 2014
Amount of Long Term Capital Gains is to be invested in the Capital Gain Bonds.
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13 February 2014
Thanks a Lot for the Info Sir ...
13 February 2014
A Property was sold. In order to get relief from LTCG U/S 54EC of the Income Tax Act;
1. Whether the sale consideration is to be invested in bonds of NHAI, NABARD, REC etc.. ? Or
2. The Differential amount between land acquisition cost and indexation cost (sale consideration) is to be invested ???
Kindly advice me on the implications and applicability.
1. Whether the sale consideration is to be invested in bonds of NHAI, NABARD, REC etc.. ? Or
2. The Differential amount between land acquisition cost and indexation cost (sale consideration) is to be invested ???
Kindly advice me on the implications and applicability.
14 February 2014
i believe Bafna ji has already answered your query. any reason for reposting?
14 February 2014
Just wanted to be clear Nikhil Sir !!! As Sir said the differential amount alone needs to be invested Right ???
14 February 2014
Yes absolutely. Thats the correct interpretation
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14 February 2014
Thanks for your confirmation Sir
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