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of <h1>Koshika Telecom Authorized to Issue Convertible Debentures and Bonds Under Section 54EB of Income-tax Act</h1> The Central Board of Direct Taxes has specified that Koshika Telecom Limited is authorized to issue fully convertible debentures and bonds under section 54EB of the Income-tax Act, 1961. This replaces previous notifications from January and November 1998. The issuance is limited to a maximum of 20 crores for debentures and 250 crores for bonds, to be completed within one year from November 1998. Investments in these instruments must be made from capital gains. If converted or transferred within seven years, the initial investment will be subject to capital gains tax under section 54EB(2) of the Income-tax Act.
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