Exemption u/s 54EC
This query is : Open
16 December 2010
Dear Expert,
My assessee has sold long term capital asset on 10.06.2010, now he wants to invest in NHAI bonds eligible for Sec.54 EC , Now my query is time limit of 6 months for investment in said bonds is from date of transfer or date of month in which long term capital asset transfer? If it is from date of transfer,then can he still invest?
My assessee has sold long term capital asset on 10.06.2010, now he wants to invest in NHAI bonds eligible for Sec.54 EC , Now my query is time limit of 6 months for investment in said bonds is from date of transfer or date of month in which long term capital asset transfer? If it is from date of transfer,then can he still invest?
CA Ayush Agarwal
(Expert)
16 December 2010
Dear Jivan,
Section 54EC Clearly Specifies That Investment in NHAI,REC Bonds From Datre Of Transfer.
So In Your Case Invest Till 09/12/2010.
Hence If Invest Today i.e 16/12/2010 Then Not Eligible for Exemption U/S 54EC.
But I Suggest You to Investing in NHAI, If He Invest in Residential House Section 54 & Other Section of Exemption Then He May Benifitted.
Regards,
Ayush Agrawal
Section 54EC Clearly Specifies That Investment in NHAI,REC Bonds From Datre Of Transfer.
So In Your Case Invest Till 09/12/2010.
Hence If Invest Today i.e 16/12/2010 Then Not Eligible for Exemption U/S 54EC.
But I Suggest You to Investing in NHAI, If He Invest in Residential House Section 54 & Other Section of Exemption Then He May Benifitted.
Regards,
Ayush Agrawal
CA Manikandan.A.V
(Expert)
16 December 2010
Ayush is correct.
CA. Aryendra
(Expert)
16 December 2010
Date is: Ater the date of transfer.
Deduction would not be available u/s 54EC after the expiry of period
Deduction would not be available u/s 54EC after the expiry of period
17 December 2010
Assessee want to invest in Bonds only, and the delay is of only 7 days, can we justify the delay if he invest in 54EC bonds
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