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of <h1>Noida Toll Bridge Co. can issue FCDs and DDBs under Income-tax Act Sec. 54EB; rules for investment apply.</h1> The Central Board of Direct Taxes has specified that Noida Toll Bridge Company Limited can issue Fully Convertible Debentures (FCDs) up to INR 25 crores and Deep Discount Bonds (DDBs) up to INR 10 crores under section 54EB of the Income-tax Act, 1961. These financial instruments must be issued within one year from the notification date. Investments in these debentures or bonds must be made from the net consideration of a long-term capital asset transfer. If the investor transfers or converts these instruments into money within seven years, the initial investment will be taxed as a capital gain.
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