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Section 54ec

This query is : Resolved 
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16 July 2013 One of our client has sold a Flat on Feb, 13 and earned Long term capital gain of Rs. 52 Lacs. He has invested Rs. 50 Lacs in the bonds in Feb, 13 u/s 54EC. Whether he can get the benefit of exemption of the remaining 2 Lacs in the FY 2012-13 if he invests 2 Lacs in July, 13
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
16 July 2013 Yes he can get the benefit as the Financial year changes so limit of Rs 50 lakhs is year wise.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 July 2013 Yes
Citation:- Shri Aspi Ginwala Vs. ACIT (2012) 44(II) ITCL 488 (Ahd-Tri).
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