mr madan sold a vacant land for 120 lakhs on 10-10-2016
indexed cost of acquisition rs 18 lakh
he deposited rs 50 lakh in REC bonds in january 2017 and another rs 50 lakh in march
taxable Capital gain after deduction
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54 EC
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Taxable Capital Gains 52 Lakhs
Taxable capital gain is 5200000 as maximum deduction allowed u/s 54 EC is Rs.5000000/-
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