Can I claim exemption u/s 54EC & 54EE along with section 54?

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• Can I claim benefits u/s 54EC, 54 and 54F at the same time?

  The benefits of exemption u/s 54EC can be clubbed with those under either section 54 or 54F but not both.

• If I sell my asset situated outside India, can I claim exemption u/s 54EC

  Yes, provided you invest the amount in five-year bonds issued by REC/NHAI.

• What is an Assessment Intimation u/s 143 (1)?

  Assessment Intimation u/s 143 (1) is issued by the I-T Dept. if the Assessee has either overpaid or underpaid his tax. If he has paid more tax, then the notice will intimate him of the refund amount. If he has paidless than the liable amount, then ...

• Can exemption can be claimed u/s 54 and 54F when capital gains from transfer of multiple properties are invested in a single residential property?

  If other conditions as regards time limit etc. are fulfilled, exemption under section 54 is allowable where capital gains arising from sale of two residential houses are invested in a single residential house.

• Can I claim exemption under any other section if the I invest the capital gains from sale of property in any other asset?

  Yes. If within six months the assessee invests, the capital gains in long term specified bonds (REC & NHAI bonds) issued by the government for a minimum of five years, then these capital gains will be exempt from tax u/s 54EC. However, the capital ...