Long term gain tax exemption u/s 54ec
This query is : Resolved
kumudprakash k doshi
(Querist)
29 January 2013
A, B C are the joint owners of residential flat and on sale in the f.y. 2012-13 there is long term gain of Rs. 15000000/ now querry is wheter each co owner will get the exemption of Rs. 5000000/seperately if invested in Bond U/s 54 EC or exemption is resticted to Rs. 5000000/- only
CA PARAS BAFNA
(Expert)
29 January 2013
Each co-owner is allowed to take exemption U/s 54EC.
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