i had sold a house property and to save capital gain,i have to purchase capital gain bonds.
But the issue is, i had asked every broking firm, banks,post office...but no body is having such bonds.
Can anyone tell me from where i can get these bonds?
As per the provisions of section 54EC, capital gains arising on the transfer of long-term capital assets shall be exempt provided the following conditions are satisfied:
- The asset should be a long-term capital asset, being land, building or both
- The capital gains should be invested within 6 months from the date of the transfer of the asset
- The amount is invested in specified capital gain bonds of
- Rural Electrification Corporation(REC),
- National Highway Authority of India(NHAI),
- Power Finance Corporation Limited(PFC) or
- Indian Railway Finance Corporation Limited(IRFC)
- The maximum limit under the section is Rs. 50 lakhs. To conclude, the maximum investment amount cannot exceed Rs. 50 lakhs.
CAclubindia
