section 54EC

All about Section 54, 54B, 54D, 54g, 54GA, 54EC, 54G & 54GB

Income Tax - Article Explains all about Section 54, Section 54B, Section 54D, Section 54G/ 54GA in case of shifting to SEZ, Section 54EC, Section 54F and Section 54GB...

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Govt may notify more bonds eligible for section 54EC exemption

Income Tax - In order to widen the scope of the section for sectors which may raise fund by issue of bonds eligible for exemption under section 54EC, it is proposed to amend section 54EC so as to provide that investment in any bond redeemable after three years which has been notified by the Central Government in this behalf shall also be eligible for ...

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S. 54EC Save Long Term Capital Gain Tax- Invest in NHAI Bonds

Income Tax - In case you have booked any long term capital gain in last six months you can save tax by investing in 54EC bonds issues by NHAI recently. Find your eligibility here:...

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Brief Synopsis of Capital Gain Exemption u/s 54, 54EC & 54F

Income Tax - We are here to understand the benefits that can be claimed under section 54, 54EC & 54F to save tax on long term capital gains. At the time of sale of any Long term Capital Asset, the gain is taxed at a steep rate of flat 20%. In order to save up on those taxes, the act has given us an option of claiming exemptions from paying such Capita...

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Tax on sale of under construction property

Income Tax - Sale of under construction before taking possession: In case you sale a property booked by you before you you take the possession, the profits made on such sale will depend on the time interval between your date of booking the property and the date of agreement to transfer your right in the under construction property. In case the interva...

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Reduction in Coupon Rate on 54EC Bonds from 6% P.A. to 5.25% P.A.

Income Tax - Application Money to be credited in NHAI’s Collection Accounts on or after 1st December 2016 will be 5.2 5% P.A. till maturity of bonds...

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Section 54EC deduction for investment after 6 months from transfer but within 6 month from receipt of Sale Consideration

Mr. Lemes E. D’ Souza, ALK Bricks Factory Company, Vs ITO (ITAT Mumbai) - The division bench of the Mumbai Income Tax Appellate Tribunal (ITAT), in Lemes E. D’ Souza v. ITO, held that benefit of Investing in NHAI/ REC Bonds under section 54EC of the Income Tax cannot be denied to the assessee merely for the reason that the investment was made beyond 6 months from the da...

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Mere share transfer agreement does not cause effective share transfer unless accompanied with Transfer form & Share Certificates

Y.V. Ramana Vs CIT (ITAT Visakhapatnam) - In the case of shares of unlisted companies, transfer would take place, only when valid share transfer form in form no. 7B is delivered to the company and endorsed by the Company. Therefore, for effective transfer of shares a mere agreement for transfer of shares is not sufficient, unless it is phys...

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Sec 54EC exemption on advance invested before Final Sale?

CIT vs. Subhash Vinayak Supnekar (Bombay High Court) - Where An Assessee Makes Investment In The Specified Bonds On Receipt Of Advance As Per An Agreement To Sale, Whether He Is Entitled To Claim The Benefit Under Section 54EC Of The Income Tax Act, 1961? Yes...

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Section 54EC eligible on Investment in specified bonds out of advance payment

CIT Vs Mr. Subhash Vinayak Supnekar (Bombay High Court) - This Appeal under Section 260­A of the Income Tax Act, 1961 (the Act)challenges the order dated 28th June, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 2008­-09....

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Section 54E not makes distinction between Depreciable & Non-Depreciable Asset

CIT vs. V.S. Dempo Company Ltd. (Supreme Court) - Section 54E of Income Tax Act,1961 does Not Make Any Distinction Between Depreciable Asset And Non-Depreciable Asset And, Therefore, The Exemption Available to the Depreciable Asset Under Section 54E Cannot Be Denied By Referring to the Fiction Created Under Section 50...

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Bonds issued by PFC Ltd eligible for Section 54EC Exemption

Notification No. 47/2017-Income Tax - (08/06/2017) - Section 54EC- Govt Notifies that any bond redeemable after three years and issued on or after 15th June, 2017 by Power Finance Corporation PFC) Limited...

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Recent Posts in "section 54EC"

Bonds issued by PFC Ltd eligible for Section 54EC Exemption

Notification No. 47/2017-Income Tax (08/06/2017)

Section 54EC- Govt Notifies that any bond redeemable after three years and issued on or after 15th June, 2017 by Power Finance Corporation PFC) Limited...

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Section 54EC deduction for investment after 6 months from transfer but within 6 month from receipt of Sale Consideration

Mr. Lemes E. D’ Souza, ALK Bricks Factory Company, Vs ITO (ITAT Mumbai)

The division bench of the Mumbai Income Tax Appellate Tribunal (ITAT), in Lemes E. D’ Souza v. ITO, held that benefit of Investing in NHAI/ REC Bonds under section 54EC of the Income Tax cannot be denied to the assessee merely for the reason that the investment was made beyond 6 months from the date of transfer....

Read More

Mere share transfer agreement does not cause effective share transfer unless accompanied with Transfer form & Share Certificates

Y.V. Ramana Vs CIT (ITAT Visakhapatnam)

In the case of shares of unlisted companies, transfer would take place, only when valid share transfer form in form no. 7B is delivered to the company and endorsed by the Company. Therefore, for effective transfer of shares a mere agreement for transfer of shares is not sufficient, unless it is physically transfer shares by delivery of sh...

Read More

All about Section 54, 54B, 54D, 54g, 54GA, 54EC, 54G & 54GB

Article Explains all about Section 54, Section 54B, Section 54D, Section 54G/ 54GA in case of shifting to SEZ, Section 54EC, Section 54F and Section 54GB...

Read More
Posted Under: Income Tax |

Govt may notify more bonds eligible for section 54EC exemption

In order to widen the scope of the section for sectors which may raise fund by issue of bonds eligible for exemption under section 54EC, it is proposed to amend section 54EC so as to provide that investment in any bond redeemable after three years which has been notified by the Central Government in this behalf shall also be eligible for ...

Read More
Posted Under: Income Tax |

Sec 54EC exemption on advance invested before Final Sale?

CIT vs. Subhash Vinayak Supnekar (Bombay High Court)

Where An Assessee Makes Investment In The Specified Bonds On Receipt Of Advance As Per An Agreement To Sale, Whether He Is Entitled To Claim The Benefit Under Section 54EC Of The Income Tax Act, 1961? Yes...

Read More

Section 54EC eligible on Investment in specified bonds out of advance payment

CIT Vs Mr. Subhash Vinayak Supnekar (Bombay High Court)

This Appeal under Section 260­A of the Income Tax Act, 1961 (the Act)challenges the order dated 28th June, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 2008­-09....

Read More

Reduction in Coupon Rate on 54EC Bonds from 6% P.A. to 5.25% P.A.

Application Money to be credited in NHAI’s Collection Accounts on or after 1st December 2016 will be 5.2 5% P.A. till maturity of bonds...

Read More
Posted Under: Income Tax |

Section 54E not makes distinction between Depreciable & Non-Depreciable Asset

CIT vs. V.S. Dempo Company Ltd. (Supreme Court)

Section 54E of Income Tax Act,1961 does Not Make Any Distinction Between Depreciable Asset And Non-Depreciable Asset And, Therefore, The Exemption Available to the Depreciable Asset Under Section 54E Cannot Be Denied By Referring to the Fiction Created Under Section 50...

Read More

S. 54EC Save Long Term Capital Gain Tax- Invest in NHAI Bonds

In case you have booked any long term capital gain in last six months you can save tax by investing in 54EC bonds issues by NHAI recently. Find your eligibility here:...

Read More
Posted Under: Income Tax |
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