Time limit for investment under section 54ec

Tax planning 169 views 3 replies

Hi

Can someone please guide me what is the time limit to invest under section 54EC - is it 180 days or 6 calendar months?

My client has sold a property on 2nd Aug, if I go my end of 6 months the due date is 28th Feb and if I go my 180 days due date is 29th Jan and if I go layman way the due date is 1st Feb????

Please help its urgent

Replies (3)
As per Section 54EC(1), investments are to be made within 6 months, neither end of month is mentioned nor 180 days.

So 6 months end on 1st Feb.

Hope it helps.
it shud be counted month wise and not daywise as section clearly states that investment shud be made within 6months from the date of transfer
thank you and congratulations


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