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of <h1>Tata Tele Services Ltd Authorized to Issue Shares Under Section 54EB; Investors Must Reinvest Long-Term Gains</h1> The Central Board of Direct Taxes has authorized Tata Tele Services Limited to issue equity shares under section 54EB of the Income-tax Act, 1961. The issuance, capped at 150 crores, must occur within one year from the notification's publication. Investors must use their capital gains from long-term asset transfers for purchasing these shares. If the shares are sold within three years of allotment, the initial investment will be taxed as capital gains per section 54EB(2) of the Income-tax Act. Tata Tele Services Limited is a public company registered under the Companies Act, 1956, with its office in New Delhi.
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