Time frame to invest under section 54ec
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2017
I have resigned as director of a Pvt Ltd company on 30th June 17. I am selling my share to other director in September 17. I wish to invest the fund, which I got after selling the shares within “SIX MONTH” , under Section 54EC. I wanted to know if the six month period will be considered from the resignation date or date on which I sold the shares.
Amol S Joglekar
(Expert)
07 September 2017
6 months within the date of transfer of shares.
K Srinivas, CMA CS
(Expert)
07 September 2017
Since on the date of resignation ,capital asset(Shares) was not transferred, the date of resignation is immaterial to calculate the time limit.
As others experts said, the date of sale of shares during September is the date to be reckoned with.
As others experts said, the date of sale of shares during September is the date to be reckoned with.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query on effect of registration of property
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Additional trade name
- Equity Share Sale and Purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
