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Benefit u/s 54EC to Non-residents

Tax queries 2784 views 2 replies

DMC

Student

364 Points Posted on 18 November 2007

Can Non-Residents save tax on Long Term Capital Gains by purchasing bonds of NHAI or REC as per section 54EC or this benefit is only available for residents.

Replies (2)

Ankit Dangayach

Chartered Accountant

691 Points Posted on 18 November 2007

Exemption In respect of capital gain is available to all assessees (including Non residents) U/S 54EC. So non Residents can save tax by purchasing bonds of NHAI or REC .

GARGS

CA

74 Points Posted on 20 November 2007

As there is no specific exclusion of non-residents from the exemption of sec 54EC. Therefore we can give this exemption to non-residents also. Thanks, taxsolution @ againstthelaw.co.in

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