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of <h1>Infrastructure Development Finance Co. authorized to issue shares under Section 54EB, Rs. 110 crore cap, one-year limit.</h1> The Central Board of Direct Taxes has authorized M/s. Infrastructure Development Finance Company Limited to issue shares valued up to Rs. 110 crores under Section 54EB of the Income-tax Act, 1961. These shares must be issued within one year from the notification's publication date. Investments in these shares must be made from capital gains income derived from the transfer of long-term capital assets. If an investor transfers the allotted shares within seven years, the initial investment will be taxable as capital gains according to Section 54EB(2) of the Income-tax Act, 1961.
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