Long term capital gain

Investment in bonds u/s 54EC can be made to save tax on Long term cap gain arising on sale of any asset other than Res. House prop..... but the investment u/s 54EC is to be made within 6 months of sale ......so in your case if you have parked your funds in Cap Gain A/c Scheme,1988  for an year and thinking to route that money to 54EC bonds , then such routing is not permissible u/s 54EC ......Further the Amt parked in Cap Gain A/c scheme will become taxable if you are withdrawing them for any purpose other than for for investment in Res House prop u/s 54..

So its better to utilise that money for purchasing Res HP within 3 yrs of sale....

Thanks

@ saurabh.

Condition for 54EC is transfer of any long term capital assets , so if residential property is long term capital assets dn i can invest in 54EC bonds.

pls clarify. 

@ saurabh

Condition for 54EC is only transfer of any LTC assets. so if  residential property is LTCA dn i can invest in 54EC bonds.

Thx

No, SEc 5EC exemption is not available for transfer of Res HP.

@ Saurabh,

pls go through I T Act once.  Sec. 54EC is not available only for deemed capital gain which take place on liquidation of company . sec. 54EC is available for LT Res. Property...

Thx