Tax exemption for investment in 54EC bonds
2 years ago
I want to invest the amount received from sale of land in 54EC bond jointly with my wife. I was the sole owner of that land. Will I get tax exemption if I invest it as stated above?
A.Hi,
Asper section 54 of the Income Tax Act, taxation over capital gains from sale of property can be avoided by investing the money in other property or bonds. 54EC bond also comes under this category whereat is exempted. Thus, you can invest in the 54EC bonds to get such exemption. For further clarifications, please reach out to us.
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Asper section 54 of the Income Tax Act, taxation over capital gains from sale of property can be avoided by investing the money in other property or bonds. 54EC bond also comes under this category whereat is exempted. Thus, you can invest in the 54EC bonds to get such exemption. For further clarifications, please reach out to us.
If you like my answer, then please rate me.
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A.Capital gain bonds or 54EC bonds are the fixed income investments that provide capital gains tax exemption under section 54EC to the tax payer. The tax liability on long-term capital gains from sale of immovable property can be reduced substantially by purchasing 54EC bonds and investing in them.
You are advised to touch base with you CA while filing the return
You are advised to touch base with you CA while filing the return
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