Whether REC 64EC Bond allows indexation of resale property
A.Sundaram
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Whether REC 64EC Bond allows indexation of resale property
Replies (5)
Yes, after indexation of property held for more than 2 years, the LT CG is arrived. The tax over it can be exempted by investment in REC 54EC bond.
Limit is 5000000/- per assessee
The doubt is I sold a property fir 41 laks After indexation the cost comes around 21 laks Whether we need to take REC 54EC Bond only for remaining 20 laks?
Correct... within six months from the sale of the property...
Yes you need to invest amount equal to LTCG I.e 20lakhs in your case.
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