Clarification on Sec 54EC exemption

Hi,

I have sold a property on 19 Feb 2020 and in order to save tax on capital gain I have invested the amount in 54EC bonds on 17 Sept 2020 since the due date is extended to 30 sept 2020. Please advise me whether this is a correct approach and will I be able to claim the exemption.

Thank you,

Ajish Kumar

 

Replies (2)
Quick Summary
This discussion seeks clarification on claiming tax exemption under Section 54EC for capital gains from a property sale. The user invested in 54EC bonds after the sale but questions whether the extended due date for investment applies to their specific timeline. The core issue is determining eligibility for the exemption based on the investment period relative to the property sale date and any relevant government extensions.

Yes, exemption available

Thank you. But have a view that the extended due date is applicable only for them whose due date falls between 20 March 2020 to 29 June 2020. Is this right? In my case, the period of 6 months ends on Aug 2020. Will I be eligible for the exemption? Please clarify

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