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        F. Acts / Amendment Acts

        Section 18 - Amendment of section 54EC

        Finance Act, 2007
        Chapter III
        Direct Taxes (Income-tax )

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        Investment limit in specified long-term bonds caps annual eligible investment, and revised definition narrows qualifying bonds for exemption. Amendment limits the amount an assessee may invest in long-term specified assets in any financial year by inserting an investment cap and revises the definition of 'long-term specified asset' to confine qualifying three-year redeemable bonds to those issued by notified issuers within specified periods, while deeming previously notified bonds to remain qualified under transitional provisions.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Investment limit in specified long-term bonds caps annual eligible investment, and revised definition narrows qualifying bonds for exemption.

                                Amendment limits the amount an assessee may invest in long-term specified assets in any financial year by inserting an investment cap and revises the definition of "long-term specified asset" to confine qualifying three-year redeemable bonds to those issued by notified issuers within specified periods, while deeming previously notified bonds to remain qualified under transitional provisions.


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