Kindly advise on the following :-
1)whether the limit of Rs. 50 lakhs on investment on Capital Gains Bonds of Government of India, like Rural Electricity Board, etc is the maximum cap against a transaction or maximum cap. for a financial year. My question is if I get a capital gain of Rs. 1 crore, can I deposit Rs. 50 lakhs in one financial year and another 50 lakhs in the next financial year.
Would be grateful for your advice alongwith relevant law/circular in this context.
regards,
venkatpr
