Exemption u/s 54EC

Share
Share This Thread
  1. Hp Kasturi

    Hp Kasturi New Member

    Two empty plots have been sold in one financial year(Oct 2015 and Nov 2015), the LTCG on one being Rs. 70.7 lacs and on the other being Rs. 5.3 lacs and the investment is made u/s 54 EC to the extent of Rs. 50 lacs.

    With change made in 2014 budget, balance of 20.7 lacs cannot be invested for property 1 in the financial year 2016-17 although 6 month window still available.
    Is the maximum exemption u/s 54EC of Rs. 50 lakhs for each property or for all eligible properties sold in that year? Can investment of Rs. 5.3 lakhs be made under section 54EC for second property in 2016-17 within the 6 month period ?
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Can Exemption under Section 54 & 54EC be claimed simultaneously? Income Tax Jul 18, 2016
exemption under section 54EC Income Tax May 8, 2015
Capital Gains Exemption on sale of Land: Section 54EC & 54F Income Tax Mar 16, 2015
Capital Gain Exemption Income Tax Yesterday at 4:56 PM
Income tax exemption on compensation received from nhai Income Tax Nov 30, 2017