Opinion Of Eminent Legal Luminaries On Controversial Issues

What Is Time Limit For Investing In Bonds?

QUERY: Investments made u/s. 54EC beyond time limit u/s. 139(1) i.e. before expiry of 139(4) time limit is eligible for exemption?
ANSWER: The exemption up to Rs. 50/- lakhs would be available under section 54EC, if the capital gains arises from the transfer of a long term capital asset, (being the original asset) and the assessee has, at any time within a period of six months after the date of such transfer, invested in the long term specified asset.

So, no exemption is available, if the amount is not invested within a period of six months after the date of transfer of the original asset, whether it is u/s. 139(1) or u/s. 139(4).

Posted in Income-tax
One comment on “What Is Time Limit For Investing In Bonds?
  1. James Antony says:

    Is there any stipulation that the investment should be made before filing the return of income?

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