Long term capital gains ( LTCG)

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Avp
67 Points Posted on 18 March 2020
We sold a house/flat in Aug 2018. Based on assessments, opened a long term capital gain account in Feb 2019 with SBI.
Question is whether can we invest the long term capital gain in NHAI bonds now or necessarily we have to go for property purchase to save
LTCG.
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On 18 March 2020 at 18:11 Report
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This discussion clarifies whether funds from selling a property in 2018, deposited into a Long Term Capital Gain (LTCG) account, can be invested in NHAI bonds for tax exemption under Section 54EC. The consensus is that while exemption under Section 54 (for purchasing a new house) is possible, Section 54EC specifically excludes the Capital Gain Account Scheme, meaning NHAI bonds are not a valid investment for this particular exemption.

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Chartered Accountant
12739 Points Posted on 18 March 2020

as per strictly interpretation of Sec 54 EC of INCOME TAX Act 1961 

Capital Gain Account Scheme is NOT APPLICABLE to SEC 54EC 

Conclusion : Can not be invested in NHAI Bonds to avail exemption u/s 54EC  

 

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On 18 March 2020 at 18:28
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28 Points Posted on 19 March 2020
I think Mr anand invest a new house under his name
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On 19 March 2020 at 12:55
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Chartered Accountant
12739 Points Posted on 19 March 2020

YES AGREED with Ashique Raza !

He can avail exemption under section 54 , but not under section 54EC 

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On 19 March 2020 at 13:16

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