practical tax & investment planning online
international tax expert / colunmist / author / speaker


Courts hold that beneficial provisions of Sec. 54EC must be interpreted liberally & equity should prevail over injustice! Section 54EC of the Income-tax Act provides for exemption of taxable long term capital gains (LTCG) arising from the transfer of an asset, to the extent the amount of such gains are invested in notified bonds within a period of six months from the date of transfer. Notified for this purpose...

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