i told u know i weak in remembering secs. at the pcc exams i remembered and left them . now it became a problem for me to remember. what is the limit of investing in 54EC each person 50 lakhs and anything else ?
i told u know i weak in remembering secs. at the pcc exams i remembered and left them . now it became a problem for me to remember. what is the limit of investing in 54EC each person 50 lakhs and anything else ?
am robot means Me , Not you mam, & you not just appearing Nov 12 but even clearing the exams, be sure of that, but just dont forget me there after. atleast on this forum inform that you have cleared
r u not attempting in nov or u cleared ca? if i clear in nov there is a great work and support by you
50 Lkhs is right but the inherent & fine point is 50 Lkhs in a financial year & also Investment should be done withing 6 months from the date of transfer ( the date of gains) Now suppose your client has sold a property on 15 Oct 2011 & has made a capital gain of 1 crore how would he save his entire gain. Answer this question & see the real concept & hidden explanation of 54 EC investment will become clear
in 11-12 financial year he invests in 50ec 50 lakhs and in 12-13 fy another 50 lakhs i.e in april moth of fy 12-13
Hey Mam Pls dont flatter me, I am sure you will clear this Nov & that too it will be your efforts & hard work which will give you success, not me or anybody, & be sure you willlllllllllllll clear, As for me do you think I should appear this Nov 2012 as I am not confident about my preperations,
Yes this is the right answer. You got the concept absolute right & hit it in the centre
what when is your attempt and y u r not confident?
Now Mam if 54 ec is the sec for investments of LTCgains then if I have made a gains by selling a machinery purchased by me in 2005 on which deprn is claimed ( depreciable asset ) & gains on depreciable assets are always S T Gains & I sell it on 31.03-12 I make a gain of Rs 15 lkhs & that is the only asset in my block what advice you would give me, can i invest in scheme under 54ec
Confidence is more a state of Mind & I am mentally feeling very low on my preparations. I feel that i am just dumb on studies & cannot even write for 50 marks in the paper
no we cannot invest as it is short term capital asset
Hey had you seen that VAT video, how did you feel, were the concepte cleared then I can also go & see that full video as if it is good then I spend that 1 - 1.30 hrs ?
i have not seen , but i will go through it tommorrow like that. i will tell u how it is?
Hey you are wrong, Check the provision of 54 ec no where it is mentioned gains but it is mentioned Long term capital assets, & Term defining asset as Long or short term under capital gains is defined by period of Holding & not type of gains. Here in my question the asset was purchased in 2005 so holding more then 36 ,onths so long term & so i can invest in 54ec there is a case law on this. & now get your book & check it now itself the provision what i said
when depreciable assets are short term how u say that 54 eC is applicable to Plant machinery? once explain me
CAclubindia
