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 o in May 2019 in two equal parts ( 2 separate sale deeds ) on SAME DATE , to the same purchasers. The total capital gain for both of us ,from sale of 2 equal parts ,of the single 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 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 ?
CAclubindia
