I can put or invest the long term gains within 6 months.
The amount I invest (upto the amount of gains I get) is allowed as deduction from my gains. I can’t lo
But if my return date comes earlier, I better do the investment before that
Max amount I can do is Rs.50 lakh.
The investment is made in specified bonds called Capital Gain Bonds or Section 54EC bonds.
I should hold on to the bonds for 5 years, else the benefit I got by reduction in gains, gets reversed in the year I dispose these off in the 5 year holding period. I can’t even take a loan against these bonds I put money in.