Sec.54ec

This query is : Resolved

kevin (Querist)
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16 March 2013 i want to knw tht it is possible to buy bond on joint name if property tht sold held by one only..say father own property so he can buy bond sepratly with his both sons??as joint owner

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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16 March 2013 Yes, he can buy the bonds jointly with his sons.

(Amount must be invested by the father who has sold the property)

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 March 2013 Father can invest in 54EC bonds in the joint names of himself and son. Delhi Tribunal decision in Ms. Saraswati Ramachandran's case reported in 300 ITR 410 can be referred for full details.

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CA Mukesh Jain S

CA Mukesh Jain S (Expert)
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17 March 2013 Amount has to be invested fully by the father though it can be in the joint name.

CA Mukesh Jain S

CA Mukesh Jain S (Expert)
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17 March 2013 Dear Experts,

Whether the interest received on the bonds by the sons will be taxable in the hands of father according to clubbing provisions ?

kevin

kevin (Querist)
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17 March 2013 Thnxs to all