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priyanka pal   21 August 2020

Deduction u/s 54EC

can I take deduction u/s 54EC in case I transfer property under land development agreement.


 1 Replies

Ravi SADhiyan

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.

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