Re:capital gain

This query is : Resolved

Dhawal Mohnot (Querist)
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08 November 2009 Long term capital gain is allowed to be invested in capital gains accounts scheme for a lock in period of 3 years.

We can invest the same in REC bond or National highway authority bond.

Would want to know if we can get invest this amount in any other bond also. The rule book is not so clear on this

Please guide

Regards

Dhawal

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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08 November 2009 54EC is the concerned section. As per the section an assessee is permitted, w.e.f 01/04/2007, to deposit only in bonds of National high way authority of India or Rural electrification corporation Ltd.

Dhawal Mohnot

Dhawal Mohnot (Querist)
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08 November 2009 Thank you for the prompt response....

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