Long-term specified assets for section 54ec

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Web6 de fev. de 2024 · As per Section 54EE, long term specified asset means units issued before 1st April 2024, of a fund notified by the Central Government. If an investor selling … Web13 de mar. de 2024 · Provisions of section 54EC provide exemption towards long term capital gain arisen on the transfer of land or building or both when the amount is invested …

Section 54EC Deduction on Capital Gain Under Income Tax Act

Web4 de abr. de 2024 · Section 54EE of the income tax Act helps long-term Capital Gain exempt when invested in the long-term asset. The beneficiary can gain this exemption under the … WebAmendment of section 54EC. 21. In section 54EC of the Income-tax Act, with effect from the 1st day of April, 2024,— '(ba) "long-term specified asset" for making any … ugr software

Section 54EC of the Income Tax Act - bajajfinservmarkets.in

Web(2) Where the long-term specified asset is transferred or converted (otherwise than by transfer) into money at any time within a period of three years from the date of its acquisition, the amount of capital gains arising from the transfer of the original asset not charged under section 45 on the basis of the cost of such long-term specified asset as … WebSummary of section 54EC of the Income Tax Act, 1961. Wef AY 2001-02 Capital gain not to be charged on investment in certain bonds. 54EC. (1) Where the capital gain arises from the transfer of a long-term capital asset, (wef AY 2024-20) being land or building or both, (the capital asset so transferred being hereafter in this section referred to ... Web22 de ago. de 2024 · The Tribunal had further observed that the expression ‘the whole or any part of capital gains in the long-term specified assets’ used in Section 54EC, made it clear that the exemption under Section 54EC is available even when the part of capital gain is invested elsewhere. thomas jefferson bottle buddy

Section 54, 54EC, 54F: Exemption from Long Term Capital

Web‘54EC. be charged on investment in certain bonds. —(1) Where the capital gain arises from the transfer of a long-term capital asset (the capital asset so transferred being hereafter … Web54EC Any Assessee Condition There should be transfer of a long-term capital asset building or both. Such an asset can also be a depreciable asset (in this case, building) held for more than 24 months. The capital gains arising from such transfer should be invested in a long-term specified asset within 6 months from the date of transfer. Long-term … ugrs internationalWeb18 de out. de 2024 · Section 54EC of the Income Tax Act 1961, exempts a capital gain from any tax implication where “the capital gain arises from the transfer of a long-term capital asset and the assessee has, at any time within a period of six months after the date of such transfer, invested the whole or any part of capital gains in the long-term specified asset ... ugr smg cold war

"Web30 de mai. de 2024 · Section 54, 54EC, 54F: Exemption from Long Term Capital Gains Tax At the time of sale of any Long Term Capital Asset, the Gains are usually very large and … " - Long-term specified assets for section 54ec

Long-term specified assets for section 54ec

Budget 2024 – Amendment to Section 54EC - ClearTax

Web18 de dez. de 2024 · 18 Dec 2024. 104,436 Views. 21 comments. The persons having long-term capital gain can avail exemption under various sections by making prescribed … Web16 de fev. de 2024 · Section 54EC provision upto FY 2024-19. As per the older provision, if the taxpayer sells any long term capital asset, he/she can claim capital gain exemption under Section 54EC on investment in long term specified assets. These specified assets include NHAI or REC bonds redeemable after 3 years issued on or after 1st April 2007.

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Web2 de fev. de 2024 · Long term specified asset. (refer FAQ no 9 to know about long term specified asset) 4. When should I purchase long term specified asset to claim exemption under section 54EC? The assessee should purchase long term specified asset within 6 months from the date of transfer of land/ building. 5. Web“cost”, in relation to any long-term specified asset, means the amount invested in such specified asset out of capital gains received or accruing as a result of the transfer of the original asset; “long-term specified asset” means a unit or units, issued before 1.4.2024, of such fund as may be notified by the Central Government in this ...

Web25 de fev. de 2024 · 1. The deduction u/s 54EC is restricted to only transfer of Land or building or both by Finance Act 2024. It is available to all assessees. 2. The Finance Act … Web10 de out. de 2024 · The provisions of section 54EC are explained herein below 1. All categories of persons are eligible to avail exemption benefit under section 54EC of the …

Web19 [Capital gain not to be charged on investment in certain bonds.. 54EC. (1) Where the capital gain arises from the transfer of a long-term capital asset (the capital asset so transferred being hereafter in this section referred to as the original asset) and the assessee has, at any time within a period of six months after the date of such transfer, … Web11 de jul. de 2024 · It means if a long term capital gain arises to the tune of Rs. 10 lakh and bonds u/s 54EC are purchased amounting Rs. 8 lakh then capital gain of Rs. 8 lakh will …

WebWhere the long term specified asset is transferred by the assessee at any time within a period of three years from the date of its acquisition, the amount of capital gain exempt …

Web26 de ago. de 2024 · Budget 2024 has inter alia proposed an amendment to Section 54EC of the Income-tax Act. This section currently provides for an exemption of long term … thomas jefferson black manWeb54EC bonds, or capital gains bonds, are one of the best ways to save long-term capital gain tax. 54EC bonds are specifically meant for investors earning long-term capital gains and would like tax exemption on these gains. The nomenclature of the financial instrument i.e., 54 EC accrues to the fact that these bonds are those assets which enables ... thomas jefferson boys basketball mshsaaWebLong-term. Short-term or Long-term. Short-term press Long-term. Long-term. Long-term: Long-term. Short-term or Long-term. Short-term otherwise Long-term. Long-term: Capital gains arising from transferring of. Residential House property. Agriculture land used until revenue or by her parents or HUF for agriculture specific in last 2 years before ... thomas jefferson boys basketballWeb11 de jul. de 2024 · It means if a long term capital gain arises to the tune of Rs. 10 lakh and bonds u/s 54EC are purchased amounting Rs. 8 lakh then capital gain of Rs. 8 lakh will only be exempted u/s 54EC and the remaining capital gain of Rs. 2 lakh will be taxable. Limit of investment: After 01-04-2007, the investment made in the long term specified capital ... ugr wifiWebDeduction of rollover of gain on transfer of land used for agricultural purposes [Section 54B] Rollover deduction in respect of capital gain on compulsory acquisition of lands and buildings [Section 54D] Rollover deduction in respect of investment of long-term capital gains from land or building or both in specified bonds [section 54EC] ugs 302 being creativeWebWhere the long term specified asset is transferred or converted (otherwise than by transfer) into money at any time within a period of 3 years from the date of its acquisition, the amount of capital gain exempt u/s 54EC earlier, shall be deemed to be long-term capital gain of the previous year, in which the long term specified asset is transferred or … ugr wholesale reviewsWebSection 54, 54EC, 54F: Exemption from Long Term Capital Gains Tax. At the time of sale of any Long Term Capital Asset, the Gains are usually very large and are taxed @ 20%. … thomas jefferson boston tea party