Capital gain of more than 50 lakhs
Dear sir, if the capital gain is more than 50 Lakhs, can I split the amount and Buy REC BONDS for 50 lakhs and balance to buy a residential property?
Asked 3 years ago in Capital Gains Tax from Tirunelveli, Tamil Nadu
Yes you can split the same. It is possible for an assessee to avail exemption under more than one section in respect of Capital Gains arising on transfer of a capital asset.
Yes you can invest Rs 50 lakhs in bonds u/s 54EC and balance gains in a residential property.
Yes you can do that
CA, New Delhi