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Deduction u/s 54EC

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(Querist)
06 December 2008 Hello Respected members,

a) Whether investment made in non-convertible redeemable debentures (CFIL NCD Series - 210) issued by Citicorp finance (India) Limited can be claimed as deduction under section 54EC

b) A senior citizen has only longterm capital gain. So can we claim deduction of Rs. 195000/- from the income and bal tax it at 10%

GUD DAY
C A Tejashwini
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CA Mani

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CA Mani (Expert)
06 December 2008 Answer for 2nd question - As per Sec.112, BEL of Rs.1.95L can be availed against LTCG.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
06 December 2008 a) No.
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
06 December 2008 a) Only bonds of NHAI and REC.

b) Yes you can.
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Tejashwini

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Tejashwini (Querist)
06 December 2008 Thanks a lot for the answers given by the members

Gud day
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