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of <h1>Section 54EC: LTCG from land/building exempt if reinvested in specified five-year bonds, ?50 lakh annual limit, recapture rules</h1> Long-term capital gains from transfer of land or buildings are exempt from tax to the extent reinvested within six months in specified long-term bonds (redeemable after five years and issued after 1 April 2018 or as notified) issued by designated public entities, subject to a limit of ?50 lakh per tax year or across the year of transfer and the following year; any excess gains are taxable. If the new bond is sold, converted into money, or a loan/advance is taken against it within five years, the previously exempted gains are recaptured as long-term capital gains in the year of such event. No deduction under section 123 is allowed for amounts claimed under this provision.
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