In this study we present synthesis and characterization of FeTe 0.5 Se 0.5 sample that has been prepared by solid state reaction route by encapsulation of stoichiometric high purity (5N) ingredients in an evacuated quartz tube at 750 °C. The resultant compound is crystallized in single phase tetragonal structure with space group P4/nmm, having lattice parameters a = 3.792(1) Å and c = 6.0081(3) Å. The studied compound is superconducting at below 13K in both magnetic and transport measurements. Further superconductivity is barely affected by external applied magnetic field, giving rise to upper critical field of above 180 Tesla at 0 K. The sample is studied extensively for AC susceptibility measurements in superconducting state. The AC drive field and frequency are varied from 1-13 Oe and 33-9999 Hz respectively. It is concluded that though the grain boundaries of this superconductor are mainly metallic the minor (undetectable in XRD) foreign phases and the role of porosity cannot be ruled out completely. This is because both frequency and amplitude affects slightly the superconductivity coupling temperature of the grains.