Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: empanelment :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TDS :: cpt :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: form 3cd :: Central Excise rule to resale the machines to a new company
 
 
« News Headlines »
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional
 GST input tax credit form
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states
 Should you file revised Income Tax returns; find out here
 Tax Deducted at Source (TDS) in Goods & Services Tax (GST)
 10 companies that blamed GST for soft June quarter
 How will GST impact the Indian economy
 10 days left to file your first GST return. This is how you do it
 What is property tax and how is it calculated…

REC to issue more capital gains bonds
December, 28th 2006

The Finance Ministry has allowed Rural Electrification Corporation Ltd (REC) to issue capital gains tax exemption bonds for Rs 3,500 crore. REC can now issue these additional bonds between December 27 and March 31 next year.

Investments in such bonds would allow an investor to claim tax benefits under Section 54EC of the Income-Tax Act. This provision allows tax exemption on the capital gains arising from the transfer of a long-term asset so long as such gains are invested in notified bonds.

Currently, there are no bonds available that investors could subscribe to for availing 54EC benefits. REC and the National Highways Authority of India (NHAI) have so far issued capital gains tax exemption bonds for Rs 4,500 crore and Rs 1,500 crore respectively in fiscal 2006-07 and these bonds were fully subscribed in August this year.

Time-limit

Meanwhile, the time limit for making investments under Section 54EC has been extended to March 31, 2007. Persons who have transferred their long-term capital asset between September 29, 2005 and September 30, 2006 (both days inclusive) could avail themselves of this facility. The Finance Ministry's latest move to allow REC to issue additional capital gains bonds for Rs 3,500 crore, however, comes with certain conditions. Any person who has invested over Rs 50 lakh in REC and NHAI bonds notified in June 2006 would not be allotted any bonds from the Rs 3,500 crore.

For any other person, the aggregate of investment in the Rs 3,500-crore bonds and the investment, if any, in the earlier offerings of this year should not exceed Rs 50 lakh.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions