Specified securities reinvestment: qualifying investment must be held three years or be taxed as capital gain upon realization. Specification under section 54EA designates Fully Convertible Debentures and Deep Discount Bonds issued by Noida Toll Bridge Company Limited as eligible instruments for reinvestment of net consideration from transfer of long term capital assets, subject to issuance limits and timing. If an assessee transfers or converts the allotted specified securities into money or realizes them within three years of allotment, the initial investment becomes chargeable to tax as capital gain under the section.
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.
Specified securities reinvestment: qualifying investment must be held three years or be taxed as capital gain upon realization.
Specification under section 54EA designates Fully Convertible Debentures and Deep Discount Bonds issued by Noida Toll Bridge Company Limited as eligible instruments for reinvestment of net consideration from transfer of long term capital assets, subject to issuance limits and timing. If an assessee transfers or converts the allotted specified securities into money or realizes them within three years of allotment, the initial investment becomes chargeable to tax as capital gain under the section.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
