Long-term specified securities: equity bought from long-term capital asset proceeds qualifies, but a three-year conversion triggers capital gains tax. The notification specifies equity shares issued by Information Technology Park Ltd. as long-term specified securities under section 54EA provided subscription is made from net consideration of a long term capital asset transfer. If the assessee transfers or converts the allotted equity into money within three years of allotment, the initial investment shall be chargeable to capital gains in accordance with the section.