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54EC Investment in bonds
whether 50 lakhs limit is applicable for one year or for once for one person?
Replies (3)
Per transaction....... per year......
aggregate investment made in the year of transfer of capital asset and the succeeding fy u/s 54 EC cannot exceed 50 lakhs
people used to time their sale of assets so that they can buy bonds between Jan and March 31 and again between April and June - the next financial year. So in case of sale of Residential asset joint holders could invest upto 2 cr.
BUT THE BUDGET 2014 HAS PLUGGED THIS LOOP HOLE.
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