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LTCG Section 5EC and Section 54 F both benefits or either one

 

Hi, Today we have sold our residential- 30 yr old house (2 -Floors). As per the advise in this Forum we will be buying the Section 54 EC Bonds (NHAI)

 Question: Ground Floor was constructed in the year 1977. First Floor in the year 1986.

       1. Whether we should get valuation done by Local Govt Reg Valuer for the year 1981 and 1986 separately or valuation of the whole house for the year 1986 is enough ?( This valuation will be done before we calculate LTCG.)

       2. Can we buy both Section 54 EC Bonds (NHAI) 50 lakhs (max limit) and a residential flat-India ? (Can we avail the benefits of Section 54F and Section 54 EC both or only one benefit?) (This is only for the case when our Long Term Capital Gain becomes greater than 50 lakhs. – I am suspecting our Long Term Capital Gain will be approx 60 lakhs.)

     3. What Financial Year Inflation Index should we use to calculate Long Term capital Tax gain ?- Sale Date: April 10 2013 (FY 2012-2013- Index 852  or FY2013-2014- Data To be released Sept 2013) 

Regards,

Samrat

 

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