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.
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?
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