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of <h1>Shalivahana Power shares classified as long-term specified securities under Section 54EA for tax benefits; restrictions apply.</h1> The Central Board of Direct Taxes has designated certain shares issued by Shalivahana Power Corporation Limited as long-term specified securities under section 54EA of the Income-tax Act, 1961. These shares, to be issued within one year from the notification date, should not exceed a total value of 14.8 crore rupees. Investments in these shares must be made from the net consideration of a long-term capital asset transfer. If the shares are transferred or converted into money within three years of allotment, the initial investment will be taxed as capital gains.
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