Long-term specified securities designation permits specified bonds as reinvestment to defer capital gains tax under notification. The notification designates specified bonds issued by a named company as long-term specified securities under section 54EB, allowing reinvestment of net consideration from transfer of a long-term capital asset into those bonds; it conditions qualification on investment from such net consideration and subjects any transfer or conversion of the allotted bonds within seven years to chargeability 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 permits specified bonds as reinvestment to defer capital gains tax under notification.
The notification designates specified bonds issued by a named company as long-term specified securities under section 54EB, allowing reinvestment of net consideration from transfer of a long-term capital asset into those bonds; it conditions qualification on investment from such net consideration and subjects any transfer or conversion of the allotted bonds within seven years to chargeability as capital gains.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.