Exmption under capital gain
This query is : Resolved
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?
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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