Ravi SADhiyan (Practice) 21 August 2020
|Originally posted by : priyanka pal|
|can I take deduction u/s 54EC in case I transfer property under land development agreement.|
1-Capital gain arises from the transfer of Land and Building, being a long-term capital asset
2- Assessee has within a period of 6 months after the date of such transfer, invested capital gains in the Bonds of Specified companies.
Amount of exemption
Capital gain or the cost of new asset whichever is lower.