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of <h1>Tax on Capital Gains Waived if Invested in Specified Bonds; Conditions Apply Under Section 54EC</h1> Capital gains from the transfer of land or buildings are not charged if invested in specified bonds within six months. If the gains exceed the investment, the excess is taxed. Investments in these bonds are capped at fifty lakh rupees per tax year. If the bonds are sold or converted to money within five years, the initially exempted gains become taxable. Loans against these bonds are treated as transfers. Investments considered under this provision are not eligible for other deductions. The bonds must be redeemable after five years and notified by the government.
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