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The Central Government, under the authority of section 54EC of the Income-tax Act, 1961, has notified that bonds issued by the Indian Renewable Energy Development Agency (IREDA) and redeemable after five years qualify as "long-term specified assets." These bonds must be issued on or after the notification date and are intended exclusively for financing renewable energy projects capable of servicing their debt independently of State Government support. This notification enables investors to claim exemption from capital gains tax under section 54EC by investing in these IREDA bonds, thereby promoting renewable energy financing while ensuring compliance with statutory debt servicing criteria.
The Central Government, under the authority of section 54EC of the Income-tax Act, 1961, has notified that bonds issued by the Indian Renewable Energy Development Agency (IREDA) and redeemable after five years qualify as "long-term specified assets." These bonds must be issued on or after the notification date and are intended exclusively for financing renewable energy projects capable of servicing their debt independently of State Government support. This notification enables investors to claim exemption from capital gains tax under section 54EC by investing in these IREDA bonds, thereby promoting renewable energy financing while ensuring compliance with statutory debt servicing criteria.
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