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Deduction u/s54ec

Tax planning 273 views 1 replies

Gopal B.R.

Sr. Finanace Exec.

37 Points Joined June 2010

Hi All,

I have sold a property for 50 lakhs in Dec 2013 (Approx Net consideration after deducting purhcase price is 48 lakhs) & planning to invest the sale proceeds in REC & NHAI bonds.

Let me know if the schemes are available for deduction U/s 54EC for the A.Y. 2014-15 or not?

Regards,

Gopal B.R.

Replies (1)

Mihir

Wealth Manager

5293 Points Joined December 2008

To avail exemption, in your case u/s 54EC, against capital gain, only the capital gain is to be invested and not the whole sale proceed. You may have to contact the NHAI or REC to find out the new issues of bonds. Since you have sold the property in December 2013, you are required to invest in bonds before the end of 6 months to avail exemption u/s 54EC.