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of <h1>Equity Shares Designated as Long-Term Securities Under Section 54EA; Conditions Apply for Tax Benefits on Investments.</h1> The Central Board of Direct Taxes designates certain equity shares 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, will not exceed INR 100 crores and are issued by Information Technology Park Ltd., a public company in Bangalore. Investments must be made from the net consideration of long-term capital asset transfers. If these 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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