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Rashmin Sanghvi & Associates

Chartered Accountants

220, 2nd Floor, Arun Chambers,
Tardeo Road,
Mumbai - 400 034,
Maharashtra, India.

Tel. Nos.: (+91 22) 2351 1878, 2352 5694.

Fax : (+91 22) 2351 5275.

Email : [email protected]

Home Articles Taxation         Share :

Budget 2017Chapter G

35. Expanding the list of long-term bonds for Capital Gain tax relief [S. 54EC]:

35.1 To provide relief from tax on long-term capital gain, a deduction up to Rs. 50 lakhs is available, if bonds of REC or NHAI are purchased within 6 months from the date of transfer.

35.2 At present, investments in NHAI or REC Bonds are the only eligible bonds for claiming the relief. Finance Bill provides that investment in any bond redeemable after 3 years and which will be notified by the Central Government, will also be eligible for deduction. Thus more bonds will be notified for the relief.