REC Bonds Issued ….Hurry UP!
Posted by sushilgirdher on June 7th, 2008
We want to invest interest gained on National Saving Certificates in REC or NHA bonds. Can we get benefit under Sec. 54-EC ? Babu hai Choudhari , Ahmedabad
I sold my plot in Dec2007 and got Long Term Capital Gain of about Rs.7.6 Lacs. Currently there is no TAX Saving Bonds Scheme available from NABARD, REC & NHAI where this amount can be invested to save tax? VK Gupta- Sonipat
The readers who have earned long term capital gains on any asset and were waiting for the bonds in the market for claiming exemption u/s 54EC should rejoice as the Rural Electrification Corporation Ltd has come to market for subscription of its Capital Gains Tax Exemption Bonds - Series-VIII which opened on 28th May 2008 .Further details can be from the links provided below
Issue Highlights of 54EC Bonds - Series VIII Information Memorandum of 54EC Bonds - Series VIII Application Form of 54 EC Bonds - Series VIII (SAMPLE) (Application Form can be downloaded from the website : http://rec.rcmcdelhi.com)
Have you read ?
Interest on REC Bond Is Taxable Yearwise!