Section 54EC of ITA, 1961 : Section 54Ec: Capital Gain Not To Be Charged On Investment In Certain Bonds
ITA, 1961
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Explanation using Example
Imagine Mr. Sharma sells his ancestral property, which is a piece of land he has owned for 15 years, for Rs. 1 crore. This results in a long-term capital gain of Rs. 50 lakhs after accounting for the indexed cost of acquisition. To save on capital gains tax, he decides to invest Rs. 50 lakhs in bonds issued by the National Highways Authority of India, which are specified as long-term specified assets under Section 54EC of the Income Tax Act.
Since Mr. Sharma invested the entire capital gain amo...
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