NOTIFICATION NO. SO 2529(E) [NO.79/2017 (F.NO.370142/18/2017-TPL)], DATED 8-8-2017

SECTION 54EC OF THE INCOME-TAX ACT, 1961 – CAPITAL GAIN NOT TO BE CHARGED ON INVESTMENT IN CERTAIN BONDS – NOTIFIED BONDS ISSUED BY THE INDIAN RAILWAY FINANCE CORPORATION LTD. AS LONG TERM SPECIFIED ASSET FOR PURPOSES OF SAID SECTION

NOTIFICATION NO. SO 2529(E) [NO.79/2017 (F.NO.370142/18/2017-TPL)]DATED 8-8-2017

In exercise of the powers conferred by clause (ba) of Explanation to section 54EC of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that any bond redeemable after three years and issued by the Indian Railway Finance Corporation Limited, a company formed and registered under the Companies Act, 1956 (1 of 1956), on or after the date of publication of this notification in the Official Gazette, as ‘long-term specified asset’ for the purposes of the said section.