Long-term specified asset designation: bonds of Power Finance Corporation redeemable after three years qualify under section 54EC from mid June 2017. The Central Government notifies that bonds issued by Power Finance Corporation Limited and redeemable after three years, when issued on or after the 15th day of June, 2017, are to be treated as long-term specified asset for the purposes of section 54EC of the Income tax Act, 1961, thereby specifying issuer, minimum redemption period and effective issuance date as the operative eligibility conditions under that section.