Mr. A earned a capital gain of ` 100 lakhs on 31-2-2014 from the sale of a long term capital asset (land) within the limits of Jaipur corporation. If he invests ` 60 lakhs, out of ` 100 lakhs, in Rural Electricity Corporation Bonds approved under Sec. 54 EC in 20-2-2014, what is the amount of exemption he can claim under Sec. 54 EC of Income Tax Act for the AY 2014-15

A 60 lakhs

B 50 lakhs

C 100 lakhs

D 30 lakhs

Answer & Explanation
Answer:50 lakhs

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