LONG TERM CAPITAL GAIN TAX Area

1. Yes

2. Not permitted, as the limit is for the transaction w.r.t. different years.

Thank you Shri Dhirajlal Rambhia Sir

my query No.2)

the LTCG received during AY23-24 and the time permitted to invest the LTCG amount upto Rs.50 lacs  till the filing of ITR for the AY 23-24 ( say 31/07/23). If I invest it after 01/04/23 but before 31/07/23, if I go in for booking of one more LTCG during 01/04/23 to 31/03/24, whether I am eligible for investing under 54EC FOR AY 24-25 as the earlier investment is for AY 23-24 sale consideration.

regards

Technically, you can claim maximum 50 lakhs in ITR for AY 2023-24, so when will you claim additional amount invested in AY 2024-25?

Only possible for any different transaction in AY 2024-24, isn't it?

That is what I have already replied as 'Not permitted w.r.t. same transaction.'

Thank you once again sir,

I think I have not made it clear.

the transaction fructified in Feb-23 is a separate one, for which I am having time upto the date of filing ITR for AY 23-24 (expected investment is to the level of permitted limit).

the second one is that, I am planning to dispose of another property during AY 24-25, for which can I invest in 54EC within 6 months of date of transaction and hope such investment of 54EC of PY will not be counted to arrive the total in AY 24-25.

hope now I made it clear.

regards

As per first proviso of the act, you are not allowed to invest more than Rs. 50 lakhs in the bonds in any financial year, hence in that case you have to invest only after April 2025. So, plan the second sell accordingly.

Good luck.