Long term specified assets under section 54EB clarify qualifying bonds and long-term deposits for tax purposes. Notification specifies as long term specified assets (for section 54EB) (i) bonds redeemable after seven years issued by certain named corporations and financial institutions, and (ii) deposits of not less than seven years with certain named financial institutions, thereby limiting qualifying investments to instruments issued or held with the listed entities and meeting the seven year durability requirement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Long term specified assets under section 54EB clarify qualifying bonds and long-term deposits for tax purposes.
Notification specifies as long term specified assets (for section 54EB) (i) bonds redeemable after seven years issued by certain named corporations and financial institutions, and (ii) deposits of not less than seven years with certain named financial institutions, thereby limiting qualifying investments to instruments issued or held with the listed entities and meeting the seven year durability requirement.
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