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5 days ago · 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.
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.
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.
Jun 18, 2024 · These bonds are named after Section 54EC of the Income Tax Act, 1961, it allows investors to save tax on long term capital gains, which comes from the sale and transfer of immovable assets like land and building, by investing the gains in these bonds. Key Features of 54EC Bonds.
Oct 26, 2020 · Provisions under section 54EC provide exemption capital gain arisen on transfer of Long Term Capital Assets (whether land or building or both) when the amount is invested in specified bonds. This article discusses provisions of Sec 54EC of the Income Tax Act. Provisions of Section 54EC. ♦ Eligible Assessee – Any Assessee.
Section 54EC of the Income Tax Act: Deduction on Long-term Capital Gains Explained. Source: housing.com. Section 54EC of the Income Tax Act allows individuals to reduce tax liability by claiming tax exemptions on the Long-Term Capital Gains by investing the profits arising from a sale of a long-term capital asset on specific capital gain bonds.
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.
Taxpayers or assessees who acquire capital gains can avail of tax deductions under Section 54EC of the Income Tax Act 1961. This section allows taxpayers to save on tax on any capital gains or profits that they might accrue following the transfer of one or more long-term or original capital assets.
19 hours ago · Section 54EC of Income Tax Act - Know Complete Information on capital gain bonds by IRFC, NHAI, PFC, & REC. Also, Know Exemption Under Section 54EC.
