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Long term capital asset
Party sold house property(long term capital asset) in february 2016. He invested capital gain amounting to 29,00,000 in 54 EC bonds in may 2016.
In october 2016 he sold a 1 flat in his name(long term capital asset). The capital gain amounting to 37,00,000 on account of this transaction. He wants to invest this capital gain of 37,00,000 in 54 EC bonds in february 2017. Is it possible?
Replies (1)
No. Investment in any one financial year for the CGB u/s. 54EC is capped at Rs 50 lakh.
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