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Capital gains on property sale

Tax planning 319 views 5 replies

we had sold a property last f.y and had ltcg of rs.48,00,000 which we invested in rec bonds. 

this f.y we are selling another property and getting ltcg of approx 45,00,000. 

my query - is there any limit on an individual to avail capital gain bonds ? as per my understanding i can use the limit of 50 lakhs every f.y . please clarify.

thank you.

Replies (5)
u/s 54EC of IT Act. u can invest in REC or NHAI max up to Rs 50 lac for the period of three years.

Yes you can.

/articles/capital-gains-exemption-u-s-54ec-of-income-tax-act-1961-13227.asp

I plan to sell one property every year so I can use the 50 lkh limit every f.y right?  

yes u are eligible to get benefit u/s 54ec up to rs 50. however while u doing all this u should consult with ur CA timely to know updates regarding the above said subject. thank for sharing with me...
read rs 50 lac


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