section 54ec

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 May 2011 when bonds are purchased within 6 month but they are purchsed as on

Rs. 50,00,000/- as on 15-3-2011
Rs. 20,00,000/- as on 26-4-2011

how much he get exemption

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 May 2011 One crore is possible as per https://www.simpletaxindia.org/2009/03/sec-54-ec-bonds-1-crore-capital-gain.html

If the assessee prefers to do so by availing the celing of Rs. 1 crore by investing Rs. 50/- lakhs each in two financial years,it would mean that the law gives an additional benefit for those who postpone the transaction to the last quarter of the financial year thereby creating an adventurous situation inviting the risk of rejection by the income tax department.

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