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of <h1>Amendment to Section 54EC: Expands Capital Gains Exemption to Include Government-Notified Bonds from April 2018 Onwards.</h1> Clause 27 of the Finance Bill, 2017 proposes an amendment to section 54EC of the Income-tax Act, which pertains to capital gains exemption on investments in specific bonds. The amendment modifies clause (ba) in subsection (3), expanding the definition of 'long-term specified asset' to include any bond notified by the Central Government, in addition to those issued by the National Highways Authority of India and the Rural Electrification Corporation Limited. This change is effective from April 1, 2018, applicable to the assessment year 2018-2019 and subsequent years.
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