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

• Related Articles

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

  Yes. You can claim exemption under all these sections together, but you have to exhaust exemption under section 54 first, since it doesn’t have a ceiling limit which is present in the other two.

• Is the exemption valid in case of residential house purchased outside India?

  No. The section specifically mentions that the new asset being a residential house must be acquired in India.

• 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.

• I am an employee of a Foreign Government working in India. Is my Salary paid by my employer i.e. Government, taxable in India?

  Salary paid by a foreign Government to its employees serving in India is taxable under the head "Salaries" u/s 15 of the 1961 Act. The words ‘an employer’ occurring in clause (a) of that section are wide enough to include a foreign Government. But if ...

• I am an employee of a Multinational Corporation and working in India. However, my salary is paid outside India. Is such an income taxable in India?

  Salary accrues where the services are rendered even if it is paid outside India; Hence, the income received outside India against services rendered in India will be taxable in India. (Sec 15 & 9, Income Tax Act)