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LTCG exemption

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RETIRED
98 Points Posted on 08 December 2018
I am going to sell my residential plot,and invest the entire amount in specified bonds,for claiming exemption,from LTCG tax ,within 6 months from the date of execution of saledee
d.For this purpose whether I have to open a separate CG SB a/c,or i can keep the same into my existing SB a/c(without withdrawing the sale proceeds).
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On 08 December 2018 at 22:12 Report
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Student CA Final
12692 Points Posted on 08 December 2018
If you are going to purchase bonds within 6 months and claim the Deductions u/s 54EC then you need not to open any Separate Account. All you need to do is just invest the amount of Capital Gains into bonds.

Also, There is no mention of CGAS u/s 54EC.
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On 08 December 2018 at 22:28
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86 Points Posted on 08 December 2018

Yes, agreed to Mr Nitesh .

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On 08 December 2018 at 23:53
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Team Lead
7558 Points Posted on 09 December 2018
please note that maximum exemption under 54 EC bonds is 50lacs. so CG exceeding 50 lacs is taxable. so if any excess C G remains then you nee to invest in residential property and deposit the CG amount in CGAS if CG not utilised before filing return.
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On 09 December 2018 at 00:51
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6 Points Posted on 09 December 2018
if you have LTCG more tha 50lakh then u can also get exemption as per sec 54 EE invest amt. upto 50lakh in govt. long term specified asset
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On 09 December 2018 at 08:34
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70 Points Posted on 10 December 2018
Bhai Pradyuman sec 54EE ka exemption milta on sale of asset other than house
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On 10 December 2018 at 15:15
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70 Points Posted on 10 December 2018
True👌
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On 10 December 2018 at 15:16


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