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Jul 3, 2024 · The exemption under Section 54EC can be claimed by any taxpayer, including individuals, Hindu Undivided Families (HUFs), companies, LLPs, firms, and others. The asset being sold should be a Long Term Capital Asset, which includes land or building or both.
Apr 25, 2024 · Explore Section 54EC and how it offers deductions on Long-Term Capital Gains (LTCG) through Capital Gain Bonds. Learn how to save on taxes while investing in these bonds for a secure financial future.
Feb 25, 2019 · If I invest Rs. 12,00,000/- out of capital gains u/s 54EC by purchsing specified bonds, in that case whether Itax will be deducted on the balance capital gains of Rs 3,00,000/- @ 20% or at the rate I falls under the regular rate under Itax act.
Oct 10, 2020 · In case of transfer / conversion, the amount of exemption claimed under section 54EC shall be deemed to be income under ‘Capital Gains’ as long term capital gain in the previous year in which the long term specified asset is transferred or converted.
May 21, 2021 · 54EC bonds, or capital gain bonds, are the best way to save long-term capital gain tax. 54EC bonds are specifically meant for investors earning capital gain and would like tax exemption on these gains. The tax deduction is available under section 54EC of the Income Tax Act. 54EC does not allow any tax exemption on short-term capital gain tax.
Jan 4, 2024 · Section 54EC of Income Tax Act outlines tax deduction & exemption rules for profits earned from the sale of capital assets. Read more about Section 54EC here.
Oct 16, 2023 · Section 54EC of the Income Tax Act presents a tax-saving strategy, offering deductions on LTCG from the sale of immovable property by facilitating investments into specific 54EC bonds.
Aug 11, 2023 · Under Section 54EC of the Income Tax Act, a capital gains bond serves as a financial instrument that offers individuals a tax-saving advantage on their long-term capital gains. When an individual sells assets like land, buildings, or other capital properties, they are liable to pay taxes on the gains realized from the sale.
Jan 5, 2023 · Section 54EC provides an exemption to the taxpayers from the tax liability on account of long-term capital gains. Such exemption is available on the capital gains generated out of the sale of any immovable property held for a period of 2 years or more.
The tax deduction that you can claim under Section 54EC depends on the amount of capital gains that you invested in the long-term specified asset. Here are some illustrations that can help you understand the deductions better: 1. Illustration for Full Investment.
