Exemption Under Section 54EC of Income Tax Act, 1961- Amendment, Articles, News Notifications, Judgments and Detailed Analysis at one place
Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : The guide explains Sections 54 to 54GB, showing how taxpayers can claim capital gains tax exemptions through reinvestment, subject...
Income Tax : The new law treats gains from depreciable assets as short-term capital gains for all purposes, not merely for computation. This ef...
Income Tax : This article explains how Section 54EC allows exemption from long-term capital gains through investment in notified bonds. The key...
Income Tax : Representation against Extension of time limit under section 54 to 54GB without extension of Income Tax Return due date Vidarbha I...
Corporate Law : It has been decided to close the 54 EC capital gain bond issue 2022-23 of NHAI with Immediate effect. Accordingly, please ensure t...
CA, CS, CMA, Income Tax : We have not noticed any heed being extended towards various issues and possible solutions we have proposed through those represent...
Income Tax : KSCAA has requested to Hon’ble Minister of Finance to extend various time limits under section 54 to 54GB of the Income-tax Act,...
Income Tax : In furtherance of the existing proviso to section 54EC, a new proviso has been inserted to clarify that the investment made by an ...
Income Tax : The Chandigarh ITAT held that deduction under Section 54 cannot be restricted merely because the new residential property is joint...
Income Tax : The appellate authority had rejected the exemption claim on limitation grounds, but ITAT held that the assessee’s explanation re...
Income Tax : The Surat ITAT held that for assessment years prior to AY 2013-14, the DVO had no authority under Section 55A to reduce the fair m...
Income Tax : Eempt income, which were disallowed under Section 14A could not be automatically added back to compute the book profit for Minimum...
Income Tax : The tribunal held that the holding period of the previous owner must be included when property is acquired through inheritance or ...
Income Tax : Ministry of Finance notifies IREDA bonds issued post-July 9, 2025, as long-term specified assets under Section 54EC for income tax...
Income Tax : HUDCO bonds issued after April 1, 2025, notified as long-term assets under Section 54EC for capital gains exemption, usable for in...
Income Tax : For claiming exemption Section 54 to 54 GB of the Act, for which last date falls between 01st April. 2021 to 28th February, 2022 m...
Income Tax : The Government of India in IEBR for FY 2022-23 have not mandated NHAI to raise funds from the market. Therefore. NHAI shall not is...
Income Tax : Central Government notifies Indian Railway Finance Corporation Limited 54EC Capital Gains Bond issued by Indian Railway Finance Co...
P.S. Jayaraman Vs ACIT (ITAT Chennai) Ld. CIT(A) concurred with assessee’s submissions that deduction u/s 54F was solely due to difference in interpretations of the provisions and therefore, the penalty was not to be levied on this count. However, the provisions of Sec. 54EC were clear that the investment in a financial year was not […]
Understand section 54EC of the Income Tax Act, 1961: learn about the tax benefits of investing capital gains in certain bonds.
It has been decided to close the 54 EC capital gain bond issue 2022-23 of NHAI with Immediate effect. Accordingly, please ensure that no fresh application/money is accepted for these bonds on or after 3rd September 2022. Bank are requested to freeze the credit in the bank accounts opened for NHAI 54 EC bonds collection from 03rd Sept 2022.
Article explains How to claim deduction under section 54EC on Short Term Capital Gain on depreciable assets held for more than 36 Months.
Naresh Chand Vs Income Tax Officer (ITAT Delhi) In the instant case, the sale deed was made in the month of October, 2013 therefore, the Assessee was supposed to invest u/s. 54EC of the Act within ‘six calendar months’ starting from November onwards and upto the month of April, 2014, which in the instant case […]
The Government of India in IEBR for FY 2022-23 have not mandated NHAI to raise funds from the market. Therefore. NHAI shall not issue 54 EC Bonds and any other debt instruments/Bonds etc. w.e.f. 01.04.2022. All are requested to please take a note of It and advise all your associates/brokers not to accept any fresh application and application money intended for allotment w.e.f. 01.4.2022 onwards.
Taxation on Capital Gains in India (Fy 31.03.2022/Ay 2022-23) S. N. Under the head Section 54 Section 54B Section 54D Section 54EC Section 54F Section 54G Section 54GA 1 Nature of Assesse Individual / HUF ‘only’ Individual / HUF ‘only’ ‘All’ assesses All’ assesses Individual / HUF ‘only’ ‘All’ assesses ‘All’ assesses 2 Nature of […]
Article deals with Exemption from Long Term Capital Gain Tax under Section 54, 54EC, 54F of Income Tax Act, 1961. Article explains on Sale / Purchase of which Asset under which section exemption is eligible, condition for such exemption, Quantum of Deduction and Exceptions to Exemption under Section 54, 54EC, 54F of Income Tax Act, […]
While recording of the reasons to reopen an assessment, AO was required to form only prima Facie opinions about escapement of income as he was not making an assessment but taking a first baby step for making the assessment by forming a reasonable belief that whether the claim of assessee should be tested in reassessment proceedings or not. Thus, there was no infirmity in the action of AO that reasoned escapement of income by claiming deduction of Rs. 1 crore u/s 54EC.
54EC bonds, or capital gain bonds, are the best way to save long-term capital gain tax. 54EC bonds are specifically meant for investors earning capital gain and would like tax exemption on these gains. The tax deduction is available under section 54EC of the Income Tax Act. 54EC does not allow any tax exemption on […]
