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
Rs. 50,00,000/- as on 15-3-2011
Rs. 20,00,000/- as on 26-4-2011
how much he get exemption
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.
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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