Central Board of Direct Taxes specifies equity shares to be issued within a period of one year from the date of publication of this notification in the Official Gazette, of an amount not exceeding three hundred crores only by the Tata Teleservices Limited u/s 54EA - 11104 - Income Tax

Tata Teleservices can issue equity shares worth 300 crore; subject to Section 54EA, Income-tax Act.

The Central Board of Direct Taxes has authorized Tata Teleservices Limited to issue equity shares worth up to three hundred crores within one year from the notification's publication date in the Official Gazette. This issuance is under Section 54EA of the Income-tax Act, 1961. Investments in these shares must be made from income taxable as 'Capital Gain' from long-term capital asset transfers. If an investor transfers these shares within three years of allotment, the initial investment will be taxable as 'Capital Gain' per Section 54EA(2) of the Income-tax Act, 1961.