Section 54EC time limit for FY21-22
This query is : Resolved
19 July 2022
Hi,
I had a property sale in June 2021 (FY21-22). To save capital long term tax on the profit, I bought some section 54EC bonds in Jan 2022 which was a month after the usual 6 months window from the sale date.
My CA is mentioning to me that for FY 21-22 still I can claim the tax exemption based on section 54 EC.
I am little confused. I know that for FY20-21, due to COVID, there was some extension given and the due date of buying such bonds was extended to Sep30th, 2021.
Do we have an extension given for FY 21-22 too with respect to time window of when can an individual buy section 54 EC bonds?
I had a property sale in June 2021 (FY21-22). To save capital long term tax on the profit, I bought some section 54EC bonds in Jan 2022 which was a month after the usual 6 months window from the sale date.
My CA is mentioning to me that for FY 21-22 still I can claim the tax exemption based on section 54 EC.
I am little confused. I know that for FY20-21, due to COVID, there was some extension given and the due date of buying such bonds was extended to Sep30th, 2021.
Do we have an extension given for FY 21-22 too with respect to time window of when can an individual buy section 54 EC bonds?
19 July 2022
No time extension given. The time limit is 6 months only.
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