INTERVIEW QUESTIONS TAX CAPITAL GAINS TAX DETAILS

Question: ​Are there any bonds in which I can invest my capital gains to claim tax relief?

Answer: ​​​Yes, as per section 54EC​ you can claim tax relief by investing the long-term capital gains in the bonds issued by the National Highway Authority of India or by the Rural Electrification Corporation Limited. The investment should be made within a period of 6 months from the date of transfer of capital asset and bonds should not be redeemed before 3 years. This benefit cannot be availed in respect of short-term capital gain. Maximum amount which qualifies for investment will be Rs. 50,00,000. Thus, deduction under section 54EC​ cannot be claimed for more than Rs. 50,00,000.

​​​Yes, as per section 54EC​ you can claim tax relief by investing the long-term capital gains in the bonds issued by the National Highway Authority of India or by the Rural Electrification Corporation Limited. The investment should be made within a period of 6 months from the date of transfer of capital asset and bonds should not be redeemed before 3 years. This benefit cannot be availed in respect of short-term capital gain. Maximum amount which qualifies for investment will be Rs. 50,00,000. Thus, deduction under section 54EC​ cannot be claimed for more than Rs. 50,00,000. Source: CoolInterview.com

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