Deduction u/s 54EC
This query is : Resolved
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
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
06 December 2008
Answer for 2nd question - As per Sec.112, BEL of Rs.1.95L can be availed against LTCG.
06 December 2008
a) No.
06 December 2008
a) Only bonds of NHAI and REC.
b) Yes you can.
b) Yes you can.
06 December 2008
Thanks a lot for the answers given by the members
Gud day
Gud day
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