section 46 (2) and exemption under section 54 EC possible?

[niketan kotadiya]

section 46 (2) and exemption under section 54 EC possible?

[DR.MARIAPPAN GOVINDARAJAN]

Which act your refer?

[KASTURI SETHI]

He is talking of Income Tax Act. Exemption under Section 54 EC is to be effective from 1.4.18. Clause 27 of Finance Bill, 2017 refers.

[DR.MARIAPPAN GOVINDARAJAN]

In my view it is not possible. Sethi Sir, what is your opinion?

[KASTURI SETHI]

Sir, Income Tax is not my field. I just traced out relevant Sections from internet with an intent to know reply from you for enrichment of my knowledge. Query should not remain unanswered. Thanks.

[DR.MARIAPPAN GOVINDARAJAN]

Please add income tax in your field so that viewers will be benefited much.

[KASTURI SETHI]

Sir, Thanks for reposing trust in me. I have no practical experience in Income Tax.

AI Summary

Can Section 54 EC Exemption Be Combined with Section 46 (2) of Income Tax Act? Forum Debates Tax Law. A discussion on a forum addresses whether an exemption under Section 54 EC of the Income Tax Act can be applied alongside Section 46 (2). The conversation involves multiple contributors, with one participant clarifying that Section 54 EC's exemption is effective from April 1, 2018, as per the Finance Bill, 2017. Another participant expresses skepticism about the possibility of combining these sections and encourages others to expand their knowledge in income tax for the benefit of forum users. The discussion highlights a collaborative effort to understand tax law applications better.