Eligible investment limit under section 54 ec it act 1961
This query is : Resolved
10 October 2013
A,B and C are joint owner the house property in the ratio of 30: 20: 50 of Rs. 1.00 Crore now they have sold the same for Rs. 2.50 Crore and having the LTG of Rs. 1.00 Crore my
quarry is whether each joint owner will get investment elegible limit of Rs. 0.50 lakh each in Bond Under Section 54 EC or it is restricted upto Rs. 0.50 lakh for all the joint onwners. each joint owner is getting the seperate cheque in their ratio of investment in the origional property.
quarry is whether each joint owner will get investment elegible limit of Rs. 0.50 lakh each in Bond Under Section 54 EC or it is restricted upto Rs. 0.50 lakh for all the joint onwners. each joint owner is getting the seperate cheque in their ratio of investment in the origional property.
10 October 2013
each owner shall be eligible for individual 50 lakh limit under 54EC.
10 October 2013
Section 54EC may be applied assessee wise. Hence Rs. 50/- lakhs can be claimed by each co-owner.
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