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Section 54 ec exemption

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(Querist)
29 December 2016 Sir, my client has purchased 500 NHAI bonds 2 years back for claiming exemption under Section 54 EC and he is still holding the same. Can he purchase more bonds this year to claim exemption under Section 54 EC against some other Asset. Can more than 500 bonds can be held at a time?

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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
03 January 2017 Section 54EC does not talk about number of bonds it only says that in one financial year total amount invested in bonds should not exceed Rs. 50 lacs.
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