LONG TERM CAPITAL GAIN TAX Area

G MURALIDARAN (ADVISOR CREDIT AUDIT DEPT SBI IMA HYDERABAD)   (35 Points)

23 March 2023  

Good morning Sirs

i need advice on following:

I sold an immovable property and expected LTCG is around RS.50 lacs +.

the consideration was received a month back from now and 26QB with 1% TDS committed.

I intend to invest in 54EC BOND.

i need clarification 

1. Can I invest in 54EC bond before 15th of May 23, ie before filing ITR for AY23-24.and such investments are accounted for AY23-24.

2. If I invest in 54EC bond after 31/03/23, whether, this investment will be accounted for AY 24-25, and if so, the chances of  further such investments in AY 24-25 is possible? ( because of permitted limit of RS.50 lacs may get exhausted.

With warm greetings to one and all in the forum,

Regards