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of <h1>Bonds by Power Finance Corporation classified as 'long-term specified assets' u/s 54EC for tax benefits.</h1> The Central Government, under the powers granted by the Income-tax Act, 1961, has issued Notification No. 47/2017, dated June 8, 2017. It declares that bonds redeemable after three years, issued on or after June 15, 2017, by Power Finance Corporation Limited, are recognized as 'long-term specified assets' for the purposes of Section 54EC of the Income-tax Act. This classification allows investors to avail of tax benefits associated with long-term capital gains by investing in these bonds.
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