Hi friends,
Whether deduction under Section 54EC of the Income Tax Act, 1961 is available even if investment was made before transfer of Long term Specified Asset. Kindly clarify my doubt along with case laws if any as soon as possible.
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Deduction u/s 54EC
Replies (4)
Quick Summary
It should be invested u/s 54 EC within 6 months from the date of transfer
54EC should be available when you invest in specified areas within 6 months of transfer
It should be invested within 6months of transfer
No prior investment qualify for 54EC deduction. You have to invest after realisation of capital gain within six months.
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