54EC : After 1-4-2007, the investment made in long term specified capital asset i.e bonds u/s 54EC during any financial year cannot exceed Rs. 50,00,000. 54F(b) : In the case the whole sale consideration is not invested and only part of the sale consideration is invested exemption shall be allowed proportionately. Thus on plain reading of clause 54F(b), deduction is proportionate. In other words full Rs.50,00,000 may not be available and only a proportionate investment will be available.
Kindly guide on applicability of the above for AY 2014-15
CAclubindia
