Long term capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2015
I being an Individual sold a House Property on 15.01.2015. and there is a capital Gain
long term is 120.00 lacs.
I shall be highly obliged if any one inform me to save the Tax on the above Income.with amount of investment and the time limit of investments.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 March 2015 You can buy another house property within 2 years or construct a house property within 3 years u/s 54 of the income tax Act.
U/s 54EC you can deposit in specified bonds upto 50 lakhs for a period of 3 years.

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Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2015 sir, is there any time limit for investing in 54EC bonds from the date of sale. 50 lacs limit is for a single gain or can we buy 54EC bond in two different F Y to avail the exemption of 100 lacs gain.
Please give me your valued advise sir.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 March 2015 Yes it has be invested within 6 months. Investment in two different financial year for 100 lacs for a single gain not allowed.

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Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2015
Thanks with regards.

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