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of <h1>Amendment to Section 54EC Limits Capital Gains Tax Exemptions for Bond Investments to 50 Lakh Rupees from April 2015.</h1> Clause 23 of the Finance (No. 2) Bill, 2014 amends section 54EC of the Income-tax Act, which addresses capital gains tax exemptions for investments in certain bonds. The amendment introduces a new proviso to sub-section (1), effective from April 1, 2015, limiting the investment in long-term specified assets to fifty lakh rupees. This limit applies to investments made from capital gains arising from the transfer of one or more original assets during the financial year of transfer and the subsequent financial year. The change applies to the assessment year 2015-16 and onwards.
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