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of <h1>New Notification Specifies Long-Term Securities Under Section 54EA; Tax Implications for Early Transfers or Conversions</h1> The Central Board of Direct Taxes issued Notification No. 11277 on March 22, 2000, under section 54EA of the Income-tax Act, 1961, specifying certain equity and preference shares and debentures as long-term specified securities. These include equity shares, preference shares, and debentures issued by a public company, up to specified amounts, within one year from the notification date. Investments in these securities must be made from the net consideration of long-term capital asset transfers. If these securities are transferred or converted within three years from allotment, the initial investment will be taxable as capital gains.
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