Greetings
As per Sec 54EC to claim exemption for 3 years for LTCG the proceeds are to be invested in RECL/NHAI with in 6 months of the sale of the capital asset . If the inversment is made after 6 months say in 8th/9th month is the exemption still avilable? Pls clarify my doubt.
Thanks
Raghu
Dear Raghu,
The Investment has to be made within 6 months from the date of transfer in order to be eligible for claiming the benefit of deduction u/s 54EC.
Any investment made after the 6 months period will not be eligible for deduction u/s54EC
ACCORDING TO ME , IT IS NOT ELIGIBLE FOR DEDUCTIONS
Not Eligible
Dear Raghu,
Investment has to be made within 6 months but if you can prove that there were no issues made by NHAI or RECL you can invest the fund at the near earliest issue of bonds by NHAI / RECL.
No, exemption is not available if you invest in bonds after 6 months of sale of capital asset.
DEAR SATYA ,
DO YOU MEAN EVEN AFTER SIX YEARS ?
IF IT IS SO , THEN PLEASE CAN YOU PLEASE PROVIDE ME ITS SOURCE...
Dear KS Raghu. No doubt if the the investment is made after 6 months from the date of transfer is not eligible for exmeption u/s 54EC.But it again depends upon the facts of case.With in the span of 6 months form the date of transfer if there were no issues of NHAIL or REFC the time limit of 6 months will get automatically extended.It was held in Recent case LAW CIT vs. Cello Plast (Bombay High Court)
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