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of <h1>CBDT Designates Bonds as Long-Term Securities Under Section 54EA; Tax Implications for Early Transfer or Conversion Explained.</h1> The Central Board of Direct Taxes designates certain bonds as long-term specified securities under Section 54EA of the Income-tax Act, 1961. These bonds, issued by a public company, are to be released within a year of the notification's publication, with a cap of 30 crores INR. Investments in these bonds must come from the net consideration of long-term capital asset transfers. If an investor transfers or converts these bonds into money within seven years of allotment, the initial investment will be taxed as capital gains according to Section 54EA.
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