Central Board of Direct Taxes specifies the various equity and preference shares and debentures as long-term specified securities u/s 54EB - S. O. 260(E) - Income Tax
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Long-term specified securities designation under section 54EB restricts transferability and triggers capital gains taxation on early conversion. The Central Board of Direct Taxes designates specified debentures issued by the named public company as long-term specified securities under section 54EB, conditioned on investment from net consideration of a long-term capital asset and subjecting premature transfer or conversion within the statutory holding period to tax as capital gains.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Long-term specified securities designation under section 54EB restricts transferability and triggers capital gains taxation on early conversion.
The Central Board of Direct Taxes designates specified debentures issued by the named public company as long-term specified securities under section 54EB, conditioned on investment from net consideration of a long-term capital asset and subjecting premature transfer or conversion within the statutory holding period to tax as capital gains.
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