Investment under section 54EC
This query is : Resolved
06 August 2009
If an individual parson obtains a long term capital gains, for tax saving as per section 54EC there is option to invest in “capital gain tax saving bond” within six months of transfer of long term fixed assets.
If tax payer applied and issued a D.D. to the investment in ‘capital gain tax saving bond’ within six months from the date of transfer of long term fixed assets, but bond issuing authority made a delay in processing the application and making query in application and after passing on six months (above mentioned period) authority allotted ‘capital gain tax saving bond’ after six months. Then can the tax payer get his capital gain as tax free through this allotted tax saving bond?
If tax payer applied and issued a D.D. to the investment in ‘capital gain tax saving bond’ within six months from the date of transfer of long term fixed assets, but bond issuing authority made a delay in processing the application and making query in application and after passing on six months (above mentioned period) authority allotted ‘capital gain tax saving bond’ after six months. Then can the tax payer get his capital gain as tax free through this allotted tax saving bond?
07 August 2009
instead of putting down the details of teh section, i would simply answer... yes... as the money was allocated for teh deposit within 6 months
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITDS U/S.194T of Firm
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- Non-Compliance documents have not been submitted by the contractors debited
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- EXPORT COMMERCIAL INVOICE HSN CODE
- FCRA 6 E- Intimation
- Bank details not Visible on Traces Portal
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
