Capital gains long term

We sold one property in Dec 2011. Myself and my wife were the joint owners of the property.We had purchased the property in 2005 July .thus qualifying for long term capital gains. After indexing the Capital gains came to two Crores.We invested One Crore in Rec and NH bonds (50 lacs each) in the month of Jan 2012 (within financial year 2011-2012)Now we want to invest the remaining one crore in the Rec and NH bonds in the month of April 2012( financial year 2012-2013 and within the six months of sale of property.)Kindly let us know if we can do so.

asked Mar 25 '12 at 12:21 by saranjit 111


We are assuming that property sold you by you was a residential house property.

An individual can invest into capital gain bonds for tax saving u/s 54EC up to Rs 50 lakh in a financial year. Investment into capital gain bonds needs to be done within six months of sale, so you can invest 50 lakh more (each of you) into such bonds before June 2012.

answered Mar 27 '12 at 14:25 by Pankaj Batra 5.2k320

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Asked: Mar 25 '12 at 12:21

Seen: 1,684 times

Last updated: Mar 27 '12 at 14:25