Скачать или смотреть Section 54EC of income tax!💰

Tax exemption on Capital Gain💰

The exemption on investment is allowed only against long term capital gains on sale of immovable property (i.e. sale of land or building).

The exemption is available up to a maximum amount of Rs 50 lakh

In case if the capital gain bonds are converted into cash before the period of maturity, then the amount so invested on which tax exemption was claimed, shall be taxable as long-term capital gain in the year of conversion.

For example, in above case if the bonds are redeemed before the maturity date, say in the financial year 2022-23, then Rs. 8 lakh shall be taxable as long-term capital gain in the financial year 2022-23

[capital gain, tax exemption, sale of immovable property, tax savings, how to save tax, long term capital gain, CA Sakchi Jain]

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