Exemption u/s.54ec
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 February 2012
hi
whether an assessee can claim exemption u/s.54EC i.e.rs.50lacs on sale of long term capital asset for each capital asset in a financial year
eg:
Building A - Rs.50lacs
Building B - Rs.50lacs
totally rs.1 crore in a single financial year
whether an assessee can claim exemption u/s.54EC i.e.rs.50lacs on sale of long term capital asset for each capital asset in a financial year
eg:
Building A - Rs.50lacs
Building B - Rs.50lacs
totally rs.1 crore in a single financial year
07 February 2012
The maximum amount of exemption claim u/s 54EC is Rs.50 lacs for a financial year. The proviso reads as DURING A FINANCIAL YEAR DOES NOT EXCEED 50LAKHS.. very clear ..
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