Monday, 26 August 2013

Rs. 1 crore exemption under sec. 54EC if investment falls in two different FYs but within 6 months

IT: Where assessee within six months from date of transfer of capital asset was able to place investment of Rs. 50 lakhs each in specified assets in two different financial year, restrictive proviso to section 54EC would not limit claim to Rs. 50 lakhs only


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