Whether deduction u/s 54ec is available or not ?
This query is : Resolved
Datar Singh Chundawat
(Querist)
30 October 2012
one of my assessee has sold a long term capital asset, and sale proceed has invested in capital gain scheme account,However, he could not utilized a sum of Rs. 65Lakh, now he will have to offer this amount as long term capital gain. Now question is whether the assessee can claim deduction u/s 54EC against this long term capital gain by investing a sum of Rs. 50lakh in specified bonds.
Please advice!
Please advice!
Prakash Kochar
(Expert)
01 November 2012
Assessee has to invest amount in bond within stipulated time from date of transfer/sale of asset for claim u/s. 54EC.
Hence not eligible for claim u/s. 54EC.
Hence not eligible for claim u/s. 54EC.
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