Exemption us 54EC

This discussion clarifies the eligibility and deadlines for claiming exemption under Section 54EC of the Income Tax Act for long-term capital gains. If you transferred a long-term capital asset on 02.12.2019, you can still invest in NHAI/REC bonds up to 30th September 2020 to claim exemption. While the general rule is to invest within six months of the asset transfer, the government extended this deadline due to the COVID-19 pandemic. It's also noted that other investment deadlines have been extended differently, with Section 54 to 54G investments benefiting from the 30th September 2020 extension.