Notification No. 31/2025, dated 07-04-2025
Section 54EC of the Income-tax Act provides an exemption in respect of capital gains. This section provides an exemption with respect to capital gain arising from the transfer of land or building, or both. The exemption is allowed if the assessee invests in the long-term specified asset
‘Long-term specified asset’ for making any investment under this section means any bond, redeemable after five years and issued on or after the 1st day of April 2018 by the National Highways Authority of India or by the Rural Electrification Corporation Limited, a company formed and registered under the Companies Act, 1956 or any other bond notified by the Central Government in this behalf.
On this behalf, the Central Board of Direct Taxes has notified the bonds redeemable after 5 years issued by Housing and Urban Development Corporation Limited (HUDCO) as a “long-term specified asset” for the purposes of section 54EC.
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