Exemption u/s 54EC

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  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 ?
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