Nhai bonds deduction u/s 80ccf for ay 2012-13

This query is : Resolved

Harshal Gautam Dawre (Querist)
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26 July 2012 Sir/Madam,

Are NHAI BONDS are eligible infrastructure bonds u/s 80 CCF

and whether interest received on its application is tax fee

CA Ghanshyam Joshi

CA Ghanshyam Joshi (Expert)
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27 July 2012 NHAI Bonds are for Capital Gain Deduction under section 54EC -

(iv) Capital Gains not chargeable on investment in certain bonds [Section 54EC]
Eligible assessee – Any assessee
Conditions to be fulfilled
􀂄 There should be transfer of a long-term capital asset.
􀂄 Such asset can also be a depreciable asset held for more than 36 months.
􀂄 The capital gains arising from such transfer should be invested in a long-term specified
asset within 6 months from the date of transfer.
􀂄 Long-term specified asset means specified bonds, redeemable after 3 years, issued by
the National Highways Authority of India (NHAI) or the Rural Electrification Corporation
Limited (RECL).
􀂄 The assessee should not transfer or convert or avail loan or advance on the security of
such bonds for a period of 3 years from the date of acquisition of such bonds.

Harshal Gautam Dawre

Harshal Gautam Dawre (Querist)
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13 August 2012 Thanks Sir

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