Benefit under section 54EC can be availed only in case you have earned Long Term Capital Gain income.
In order to claim exemption u/s 54EC, you have to consider the following points:
1. You need to buy the bonds issued by REC or NHAI within 6 months from the date of transfer of the asset to claim exemption under section 54EC.
2.The exemption is limited to Rs 50 lakh p.a. As per the amendment in Budget 2014, from AY 2015-16 onwards, the limit for maximum exemption under section 54EC is capped at maximum of Rs. 50 Lakhs irrespective of the financial year.