Taxability of Real Estate transactions

Section 54EC
• Long term capital gains not to be charged
on investment in certain bonds at any time
within a period of 6 months from the date of
transfer
• Specified asset wef 1/4/2006:
– National Highway Authority of India
– Rural Electrification Corporation Limited
• Advance invested in specified bonds, while
transfer takes place subsequently
– Whether assessee entitled to benefit u/s 54EC
– Circular No. 359 dt 10-5-1983
1983
• Bonds transferred / security for loan with in
3 yrs