TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Sections 54EA & 54EB: Tax Exemption for Investments in Approved Instruments; Conditions for Public Companies & Financial Institutions.</h1> Sections 54EA and 54EB of the Income-tax Act, 1961, introduced by the Finance (No. 2) Act, 1996, exempt capital gains tax for investments in approved instruments post-transfer of long-term capital assets from October 1, 1996. Public companies and financial institutions must apply to the CBDT for investment approvals, while mutual funds are exempt from this requirement. Sixty percent of capital raised must be invested in infrastructure or specified sectors within a year, with the remainder invested within three years. Non-compliance can lead to withdrawal of approval. Approved investments include specific bonds, units, and deposits, with recent amendments including shares issued by public companies.
TaxTMI 
TaxTMI 
