Section 54EC,
contains a Provisio i.e.
[Provided that the investment made on or after the 1st day of April, 2007 in the long-term specified asset by an assessee during any financial year does not exceed fifty lakh rupees.]
An assessee earns cap gains of Rs. 1 Cr in month of FEB, he invest 50Lacs in the month of march and rest of 50 lacs in month of april in next financial year, treating the above 50 lacs limit given in 54EC for particular one financial year, can he invest rest 50Lacs in the next financial year???
Please Help!!!
CAclubindia
