capital gain on sale if comnercial property sold in 2 parts on same date

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Sir, 

Me and and my mother jointly inherited a commercial property (plot with boundary wall and Tin shed) from my father after his death in the year 1982. This commercial plot was sold in May 2019 in two equal parts (i.e. TWO separate sale deeds were executed by us ) on SAME  DATE ,  to the same purchasers. The total capital gain for both of us ,from sale of 2 equal parts  ,of the single comnercial plot, works out to be around 18 lacs.

I want to know whether we both can invest in Long term capital gain bonds, like REC OR NHAI, available under section 54 EC , as we have sold the plot in 2 equal parts on same date.IN general, Can the EXEMPTION under section 54 EC be availed if someone sells 2 commercial properties in one financial year and the total capital gain is under 50 lacs for each seller ?
Replies (9)
yes both of you can invest in ltcg bonds...both of also avail exemption even if on 2 commercial time but not exceeds fifty lakhs in single financial year....
pls can some one answer my query ?
Clarify your query
hello Rashmi ji, I just wanted to know whether the EXEMPTION under section 54 EC capital gain bonds be availed if an individual sells 2 commercial properties in one financial year and the total capital gain is under 50 lacs for each seller ?

Yes you can claim exemption u/s 54EC in respect of both the property but keep in mind that you have to invest in bonds within 6 months and from this A.Y. lock in period for bonds is 5 years.

Thank You Ma'am ,
one more query , Can the bonds be purchased in single transaction for both capital gains or do I have to buy separately for each capital gain?

Exemption can be claimed for both property even if the bonds purchased in single transaction

Thank you Ma'am

Welcome pleasure is all mine.


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