Exmption under capital gain

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alpesh (Querist)
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02 May 2015 sir, may client has been deposits the amout of Rs 500000 in the bonds OF NHIA Sec. 54EC in thise case he can use thise amount to purchase a house or construt since he has alreaday one house?what i can do?

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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02 May 2015 If your client has taken exemption from capital gain u/s 54EC by investing in NHAI bonds, it will be non redeemable for 3 years. If these bonds are converted into money or transferred within 3 years of their acquisition than entire capital gains which were exempted earlier will be taxable in that year.

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