section 54EC

Today will understand new idea to save our Capital Gain from tax…

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📝Any gain arises on sale of land and building can be fully exempt if you are investing resulting amount in any other new asset viz.

• Bonds of NHAI or REC or
• Bonds of Power Finance Corporation or
• Bonds of Indian Railway Finance corporation or
• Any notified bonds by Central Government

🔔this all investment shall not be more than amount of Rs. 50 lacs.

Total Amount of Exemption available under section :

Actual investment or capital gain whichever is lower

Condition for avail benefit of exemption :

1. Investment should be made within 6 months.
2. Capital gain should be by nature long term
3. all investment should not be redeemable before 5 years.
4. Any assessee can claim this exemption irrespective of residential status