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Section 54 ec ltcg bonds
I understand that for claiming benefit under section 54EC, the gains need to be invested within a period of 6 months. The deemed date of allotment for Section 54EC bonds is the last day of month during which the amount invested is credited to the comany issuing bonds. Suppose my invested amount gets credited on March 5th. So will the 6 month window apply to March 5th or March 31st?
Replies (2)
Period is of 6 calendar months and not 180 days.
Refer: 1. All ITAT (2692) ITAT Ahmedabad (220) Alkaben B. Patel Vs. ITO
2. Yahya E. Dhariwala, 49 SOT 458 (Mum)
Thank you Sir for your reply and your reference to a very interesting legal case. It has cleared my doubt.
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