Nhai bonds deduction u/s 80ccf for ay 2012-13
This query is : Resolved
Harshal Gautam Dawre
(Querist)
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
Are NHAI BONDS are eligible infrastructure bonds u/s 80 CCF
and whether interest received on its application is tax fee
CA Ghanshyam Joshi
(Expert)
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.
(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
(Querist)
13 August 2012
Thanks Sir
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