Long-term capital gains on sale of a long-term capital asset in October, 2018 is ₹ 105 lakh. The assessee invested ₹ 50 lakh in REC bonds in March, 2019 and t 55 lakh in NHAI bonds in May, 2019. The amount of exemption eligible under Section 54EC is-
A. Nil
B. ₹ 50 lakh
C. ₹ 55 lakh
D. ₹ 105 lakh
Answer:B
Long-term capital gains on sale of a long-term capital asset in October, 2018 is ₹ 105 lakh. The assessee invested ₹ 50 lakh in REC bonds in March, 2019 and t 55 lakh in NHAI bonds in May, 2019. The amount of exemption eligible under Section 54EC is-
A. Nil B. ₹ 50 lakh C. ₹ 55 lakh D. ₹ 105 lakh