The amount of capital gains under Section 54EC must be invested for a period of 5 years in such bonds. If you sell the bonds before the end of the 5-year period, the exemption granted under Section 54EC will be withdrawn, and the previously exempted long-term Capital Gain will become taxable in the year of transfer or conversion.
What happens if I redeem the bonds issued by REC/NHAI before the three-year period of investment?
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