REC and NHAI Bonds
This query is : Resolved
Chandrika Subramaniyan
(Querist)
10 September 2010
If I sell my flat in Dec 2010 can I invest the proceeds (60 Lakhs )from the sale,in to 500 Bonds (50 Lakhs )in to REC for financial year 2010-2011 and balance 100 Bonds in Apr 2011 for the financial year 2011-2012...to avail tax exemption for the entire amount ? Thank you....Chandrika
Aditya Maheshwari
(Expert)
10 September 2010
Yes u can do so as the limit of Rs. 50 lakhs u/s 54EC is for a financial year.
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