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of <h1>Koshika Telecom Authorized to Issue Convertible Debentures and Bonds Under Income-tax Act Section 54EB</h1> The Central Board of Direct Taxes has issued a notification specifying that M/s Koshika Telecom Limited is authorized to issue fully convertible debentures and bonds under Section 54EB of the Income-tax Act, 1961. These financial instruments can be issued within one year from November 13, 1998, with a limit of INR 20 crores for debentures and INR 250 crores for bonds. Investments in these must be made from capital gains from the transfer of long-term assets. If converted or transferred within seven years, the initial investment will be taxed as capital gains according to Section 54EB(2).
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