TAX SAVING

Dear sir, My mother aged 79 got 22 lac as consideration of property(old) sold in November 2010. We wish to save tax u/s 54EC , since it is long term gain . How can we save the tax . We are more interested 1)in purchasing property or- Till what period we can prolong the purchase 2)purchase infra structure bond.-Till what period we can postpone the purchase of Bonds. Can we purchase vacant plot instead of New Property equivalent to the consideration or more.

asked Mar 09 '11 at 21:33 by joshi 1111


Property has to be purchased within 2 years of sale of old property or a new house has to be constructed within three years of sale.

Capital gain bonds have to be purchased within six months of sale.

You can purchase a residential plot but construction will have to be done within three years on same.

answered Mar 10 '11 at 13:50 by pankaj 5.2k320

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Asked: Mar 09 '11 at 21:33

Seen: 1,310 times

Last updated: Mar 10 '11 at 13:50