Capital Gain Tax Bonds in case of joint sellers

Gaurav Passi 1
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Hello Pankaj,

Will the investment limit of Rs. 50 lakhs in NHAI/REC bonds apply in case there are joint sellers? If there are 3 joint sellers, would the investment limit be Rs. 50 lakhs per seller (i.e, Rs. 1.5 Crore) or would the investment limit be Rs. 50 lakhs?

Thanks very much

Gaurav

section-54ec capital-gain-bonds capital-gains income-tax
1 Answers

Income tax on long term gains would be computed individually in case of sale of a jointly owned property. Each one of the gainer can invest maximum 50 lacs in capital gain bonds per financial year.

I hope it clears that total 1.5 crore can be invested by three persons (50 lacs each).

Pankaj Batra5212
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